Perfect competition

1. Perfect Competition is the one industry structure that achieves all of the following
• productive efficiency
• allocative efficiency
• maximizes social welfare
For a first posting to this discussion board, select one of the achievements of Perfect Competition listed above. Describe what it means in your own words, and state why you believe it to be the most important standard. This first posting requires at least 150 words.

2. Court rulings on anti-trust cases tend to follow one of two principles, the rule of reason or the per se rule. Which of these two principles do you believe should guide courts in ruling on an anti-trust case. Write a 250 word posting in which you state and justify your selection.