Which of the following is the closest example of a perfectly competitive industry?
A) casual dining restaurants
B) cigarettes
C) convenience stores
D) alfalfa

Question

Quizplus · Accepted Answer

Alfalfa is the closest example of a perfectly competitive industry because it is a homogeneous product, there are many buyers and sellers, and there are no barriers to entry or exit in the market.

Which of the Following Is the Closest Example of a Perfectly