A particular industry has many competitors, each of whom has little control over price. In addition, it is fairly easy to enter the industry. This industry is an example of ______.

Question

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The description of the industry having many competitors with little control over price and ease of entry points towards pure competition. In pure competition, there are many small firms that offer identical products and no one firm can influence the market price.

A Particular Industry Has Many Competitors, Each of Whom Has