Respuesta :
Perfectly competitive market is a market in which there are no long-run economic profits, little to no barriers to entry or exit, some control over price, and differentiated products.
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 exit the market without any obstacles, consumers have complete or perfect information, and businesses are unable to set prices. It is, therefore, a market that is entirely shaped by market forces. It is the opposite of imperfect competition, which more accurately depicts the structure of the market today.
- Theoretically, a monopolistic market is the antithesis of perfect competition.
- Every real market is deemed imperfect because it does not exist on the plane of the ideal competition model.
- Imperfect competition, which occurs when a market deviates from the ideals of pure or perfect neoclassical competition, is its opposite.
Learn more about Perfectly competitive market, here
https://brainly.com/question/29407851
#SPJ4
