This achieves an optimal level of production

[hasibaakterss3309]

Efficient use of the economic system's resources ., when there is neither an excess of goods nor a shortage of them - if demand changes, the supply volume will also shift in order to maintain price equilibrium.
Low cost, availability of goods and services for the consumer – perfect competition is characterized by a relatively low price level.
Incentive for production innovation – since an individual producer cannot influence the price, he can only increase profits by reducing his own costs.
The constant availability of goods on the market – perfect competition – helps to stabilize the volume of supply.
Advantages and Disadvantages of Perfect Competition

Source: Eduardo Soares / unsplash.com

Flaws :

In the long term, the economic profit of sellers guatemala telegram number database creases and tends to zero - as production volumes increase, the price has to be reduced, which reduces the share of profit.
The possibility of significant fluctuations in prices due to a sharp change in supply or demand, which may also be caused by non-economic factors.
Difficulties with the development of industries requiring large capital investments.
An irrational attitude towards natural resources, the emergence of environmental problems – each individual producer cares only about his own profit and therefore spends publicly available resources uneconomically.
Perfect competition as a market structure does not provide for the production of public goods.
Differentiation among buyers by income level remains, which determines the availability of goods and services.