Perfect Competition Most Closely Refers to A

Multiple Choice

Perfect competition most closely refers to a:

A) market structure that is characterized by the existence of only one firm in the industry
B) market structure that is characterized by the existence of many firms the in the industry
C) market structure that is characterized by the existence of a few dominant firms in an industry.
D) market structure that is characterized by many buyers and sellers, where each one believes that it is not possible to affect market prices by their own individual actions.
E) market industry that is characterized by many buyers and sellers, where each one believes that it is possible to affect market prices by their own individual actions.