Which market structure is characterized by many sellers, easy entry, and homogeneous products?

Name: Which market structure is characterized by many sellers, easy entry, and homogeneous products?
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The characteristics described in the question are all features of perfect competition. In a perfect competition market, there are many sellers offering identical or homogeneous products, and there are no barriers to entry or exit, meaning that new firms can easily enter the market.

Which Market Structure Is Characterized by Many Sellers, Easy Entry