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@article{171466,
        author = {MOHIT JAIN},
        title = {Exploring Perfect Competition: A Narrative Review of the 5 Cs},
        journal = {International Journal of Innovative Research in Technology},
        year = {2024},
        volume = {11},
        number = {8},
        pages = {16-22},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=171466},
        abstract = {This paper delves into the economic realm, exploring the concept of perfect competition and its application in real-world scenarios. Inspired by Alfred Marshall's analogy, it investigates how utility and production costs influence economic value. Through the narrative framework of the "Five Cs" - Casting, Change, Challenge, Choice, and Confidence - the paper examines market dynamics and human behavior intricacies. It uncovers the disparities between theoretical ideals and practical occurrences, revealing inefficiencies and market imperfections. By dissecting various economic scenes, the paper elucidates the hurdles faced by economic entities in adhering to perfect competition standards. Ultimately, it questions the feasibility of attaining economic balance within perfect competition confines, stressing the importance of nuanced comprehension and adaptive strategies in modern economic environments.},
        keywords = {Perfect Competition, Storytelling, Five Cs, Market Imperfections, Economic Equilibrium},
        month = {December},
        }