For an industry to be perfectly competitive, what must exist?

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Kamari Miller

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9 April, 23:58

For an industry to be perfectly competitive, what must exist?

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Giovanny Bowman · Answer 1

There are two necessities for an industry to be competitive, first for an industry to be competitive, the industry must have numerous producers that does not have a large market share, second, an industry can be considered competitive if its consumers regard the products of the producers as equivalent.