Assumptions necessary for a market to be perfectly competitive include:
3. No Barriers to Entry/Exit: There should not be any barriers preventing new producers from entering the industry, such as regulation costs or high startup capital requirements, nor should there be anything stopping existing producers from exiting the industry if they wish to do so without significant penalties or costs involved.
4. Perfect Information: Everyone within the market has access to all relevant information about production costs, prices charged, current quantities available etc., allowing them to make informed decisions about what price level they want to sell at given certain conditions within a particular period of time.
5. Free Pricing Power: Producers must not have control over setting price levels but instead must accept whatever price is determined by free-market forces including supply and demand conditions in order for perfect competition to exist; any attempt by a producer (or group of producers) acting together)to gain pricing power would lead to imperfect competition where those actors can charge higher prices than what would occur in perfect competition due absence of pricing power among them (i..e nonprice competition).

The demand curve facing an individual producer is different from the market demand curve since only one firm’s demand affects its own revenue while changes in total quantity demanded will affect revenue for all firms operating within this type of perfectly competitive environment simultaneously due lack of pricing power among every participant thus making each firm’s output completely substitutable for another’s resulting into a flat horizontal line representing an infinite amount of supply when graphed against average total cost schedule—the kinked nature graph typically seen when analyzing monopolistic markets does not exist here because each firm’s marginal revenue equals its price established through equilibrium predetermined by aggregated supply/demand conditions across entire industry .

Restaurants – Not perfectly competitive due presence of branding which gives few restaurants advantage over others (nonprice competition); too many factors like food quality, ambiance etc contribute towards choice made when dining out which keeps restaurants from being homogeneous substitutable goods whose production/consumption patterns act similarly under aggregate circumstances thus giving rise imperfectly competitive behavior amongst operators instead flawless coordination usually found under fully efficient purest form capitalism offers – perfect competition– leading into misallocation resources anyone partaking gains little benefit relative optimal outcome desired especially during times shortage shortages scarcity emerge adversely influencing everyone involved
Corn – Perfectly Competitive as standardized commodity traded heavily amongst vast majority equities investors around world subjecting it constant flux commodities exchange according rules laws governing exchanges creating relatively frictionless vast network trade mostly unaffected branding other factors contradicting notion purest forms capitalism expected upholding principles outlined above
College Education – Not perfectly competitive due presence factor distinguishing multiple educational services like prestige associated university reputations building up unique branding opportunities institutions take advantage resulting unequal treatment students stemming same college even varying degrees offered through institution itself keeping education sector away ideal conditions normally required maintaining state reaping highest benefits unfettered trade agreements forged between countless parties participating process Local Radio & Television – Not perfectly Competitive as local radio stations TV networks differentiate themselves based original content producing form advertising deals signed corporate sponsors reflecting tastes preferences regional audiences keeping these media outlets largely impervious nationalize trends streaming services international offerings reducing its overall appeal mass public