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W0lf93

A perfect competition is a type of market, in which there are many sellers and buyers who has fuul knowledge of the market. All element of monopoly (one man seller or buyer) is eliminated and the market price of a commodity is not controled by any individual buyer or seller.

MchelleNeedsHelp

The answer is one.

Having no competition would turn the seller most likely into a monopoly.
Having many competitors will make the price fluctuate and off brands will spring up.
Having one competitor will keep the product the same and they will not be able to control the market price of the product.

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