Which of the following is a characteristic of a perfectly competitive industry?

Perfectly Competitive Industry Characteristics:

Perfect competition assumes identical (homogeneous) products, no barriers to entry or exit, and numerous buyers and sellers where all face a uniform market price.

Firms are price takers, unable to influence prices individually.

Elimination of Other Options:

A: Homogeneous, not heterogeneous, products are a key characteristic.

B: Perfect competition assumes free entry and exit.

C: Prices are uniform, not variable.

References:

ICWIM Module 3: Microeconomics and market structures