Perfect Competition: Advantages and Disadvantages

Advantages: 1. Very Low Barriers to Entry & Exit 2. Chance Of Customer Exploitation Is Low 3. Consumer Information Is High 4. Active Business Environment 5. Availability of High-Quality Products with Low Price 6... Disadvantages: 1. Identical (Non-Differentiated) Products 2. Heavy Competition Results More Producers Exit 3. Risk Of Predatory Pricing 4. Less Production Efficiency of Individual Firms 5. Less Research and Development 6...