In a perfect competition, companies set output and prices where marginal revenue equals. Perfect competition benefits consumers because prices will be than in other market structures.

1. marginal cost 2. lower

Explanation:

In a perfect competition, there are many buyers and sellers. When there are large numbers of buyers and sellers, no single buyer or seller has significant control of the market.

In a perfect competition, there are no barriers to entry. In a perfectly competitive market, there would be nothing to obstruct a business from entering any given market.

RASEL

Market equilibrium means that companies set prices where marginal revenue equals marginal cost.

Perfect competition would lead to lower prices than any other market type.