Option D is a condition of a perfect competition that is not met. The Industry sales are small.
What is perfect competition?
- A perfect market, also known as an atomistic market, is defined in economics by several idealizing conditions, collectively known as perfect competition, or atomistic competition.
- When all companies sell identical products, market share has no influence on price, companies can enter and exit without barriers, buyers have perfect or full information, and companies cannot determine prices, perfect competition exists.
- Perfect competition is a type of marketplace in which multiple companies sell the same product or service. Many customers are interested in purchasing those items.
- None of these companies can set a price for their product or service without losing business to competitors.
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