Which of the following industries is perfectly competitive?
A)Autos.
B)Cell phone service.
C)Wholesale fresh flowers.

Question

Quizplus · Accepted Answer

The wholesale fresh flowers industry is perfectly competitive because there are many small firms, homogeneous products, no barriers to entry or exit, perfect information, and the price is determined by the market supply and demand. Autos and cell phone service are not perfectly competitive because there are large corporations dominating the market with some control over the price.

Which of the Following Industries Is Perfectly Competitive