Respuesta :
A "perfectly competitive" industry is one that
-has commodity product offerings.
-usually exhibits low profitability.
-have difficulty achieving even a temporary competitive advantage.
What is perfectly competitive" industry?
In economics, specifically general equilibrium theory, a perfect market, also known as an atomistic market, is defined by a number of idealising conditions, which are referred to as perfect competition, or atomistic competition, as a whole.
According to economic theory, perfect competition arises when all businesses offer the same goods, the price is unaffected by market share, businesses can enter or quit the market without any obstacles, consumers have complete or perfect information, and businesses are unable to set prices.
Perfectly competitive markets don't exist in the actual world. The closest parallels, however, can be agricultural marketplaces with plenty of growers of comparable crops like mangoes or wheat. Street food vendors could serve as another illustration.
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