An industry characterized by many competitors,each producing identical products,with free entry and exit,is described as:
A)monopolistically competitive.
B)oligopolistic.
C)perfectly competitive.
D)monopolistic.

Question

Quizplus · Accepted Answer

The given description perfectly fits the characteristics of a perfectly competitive industry where there are many producers selling identical products, with ease of entry and exit for new firms.

An Industry Characterized by Many Competitors,each Producing Identical Products,with Free