Respuesta :
Explanation:
Perfect competition - A perfectly competition firm is one that is marked by a huge number of seller / producers as well as a large number of buyers . These firms produce large amounts of homogeneovs products that are sold at a price decided in the market by market force .
Adding on to the explanation above:
Because there are a lot of sellers and buyers, prices remain relatively low and competitive, as well as many new or improved products coming on to the market. The down side is, you get a lot of cheep products, and a few more expensive good quality products. The huge amount of sellers also makes it difficult for new businesses to open and establish themselves.
Because there are a lot of sellers and buyers, prices remain relatively low and competitive, as well as many new or improved products coming on to the market. The down side is, you get a lot of cheep products, and a few more expensive good quality products. The huge amount of sellers also makes it difficult for new businesses to open and establish themselves.