This is the example of my own life where I saw Perfect Competition, when I went to take one auto from an auto- stand, there were many autos in auto-stand standing as well as coming from outside that means large number of sellers and free entry and exit, offering same services which means homogeneous product. As sellers are more I had more bargaining capacity, so I fixed the price which means they are price takers also. They had horizontal sloping curve of price elasticity and price is equals to marginal cost (incurred by one additional trip) also, hence there was a Perfect Competition. There are few more examples of Perfect competition which I came across such as vegetable markets, fruit markets, it also based on area suppose we can also take a market area where only sellers of clothes were there, market area which specially known as mobile market, there is daily market in every cities where we can see existence of Perfect Competition.
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