Generally,perfectly competitive industries such as paper and steel (commodities)are deemed to be ________ in profits to more differentiated industries like pharmaceuticals and cosmetics.
A) superior
B) inferior
C) similar
D) indeterminate

Question

Quizplus · Accepted Answer

Perfectly competitive industries are inferior in profit-making ability because their capacity to differentiate a product offering is limited and consumers base their purchasing decisions solely on price.

Generally,perfectly Competitive Industries Such as Paper and Steel (Commodities)are Deemed