In competitive markets the products sold are different depending on the firm selling the product. it is hard for a seller to enter the market due to…

In competitive markets

the products sold are different depending on the firm selling the product.

it is hard for a seller to enter the market due to barriers to entry.

producers can expect to be able to set prices at the level they

choose.

firms will leave the market if they are making economic profits.

buyers can expect to find consistently low prices and wide availability of the goods that they want.