Our lil' ol' bike business—the same one we toil in night and day, usually because we happen to like bikes a lot—is now starting to appear in various college business courses as literally a textbook example of what’s called Perfect Competition. We're being taught to Business and Econ majors across the country because the bike business happens to score a perfect five points out of five for the characteristics that define Perfect Competition. What are those, and why does it matter? Read on.
