Please help me write what are the interesting statement in this section and why

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Please help me write what are the interesting statement in this section and why is it important to know at economics 4-6 sentences Thanks!

11.5 WHAT IS PERFECT COMPETITION? Monopoly is an extreme case where competition does not exist. Perfect competition is the polar opposite. Not one firm has any market power because a very large number of firms exist. The market has a large amount of buyers as well. No buyer is able to exercise any power to make special purchases at better than market price The information available to all buyers and sellers is abundant. A seller offering the product at a higher price cannot fool the buyers. Although nothing physical is produced, the stock market provides a close example of perfect competition. Many thousands of buyers and sellers trade millions of shares of stock every day. The stock market is an exemplar case of near perfect information. Even the smaller traders can find timely information about the market through the Internet In practice, there is actually a market for each corporation that has publicly held stock. For example, every day several million shares of General Motors (GM) stock will trade. The current sellers of GM are institutions and people that previously purchased the stock. They are willing to sell their shares of stock because the market price is attractive. The buyers of GM are also institutions and people, but they would prefer to own part of the company. A brokerage arranges the trade, and the seller is inconsequential to the buyer. Shares of GM stock are homogeneous and any single seller does not set the price The seller can be called a price-taker because the price is determined in the market place

Explanation / Answer

Monopoly is a market structure where competition doesn’t exist. Perfect competition is polar opposite, and there is a perfect competition in the market, Example : Share market.

The assumption of perfect competition is that they sell identical products to its competitor. Market has large number of buyers wherein information available to buyer is in abundant and seller cannot fool them by charging high price

In monopoly monopolist is a price maker. In the perfect competition the firm is price taker.

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