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which of the following is(are) basic feature(s) of a perfectly competitive industry? multiple choice buyers and sellers have perfect information. there are no transaction costs. there is free entry and exit in the market. all of the statements associated with this question are correct.

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Asarwaridn

D: 'all of the statements associated with this question are correct' because all the given options represent the basic features of a perfectly competitive industry.

In economic theory, a case of a perfectly competitive industry arises when all firms sell identical products and goods, market share does not influence price, firms are able to enter and exit without any barriers, buyers and sellers have perfect or full information, and there are no transaction costs. In a perfectly competitive industry, an enterprise can sell as large a quantity as it wishes, as long as it accepts the prevailing market price. If an enterprise increases the number of units sold at a certain price, then total revenue will increase. If the price of the good increases for every unit sold, then total revenue will also increase.

You can learn more about perfectly competitive industry at

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