The firm and industry are not the same in which market structure

Health

1 answer:

Leokris [45]3 years ago

7 0

Answer: Perfect Competition or Competitive market

Explanation:

In a perfect competition, there are many firms competing against each other to offer the same goods and/ or services. The industry and the firm are therefore not the same because the industry consists of many firms.

This is in contrast to a Monopolistic market where there is only one firm or that firm exercises significant influence. In such a case, the industry and the firm are one in the same because the firm controls the industry so describing the firm is essentially describing the industry.

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The firm and industry are not the same in which market structure​

The firm and industry are not the same in which market structure