-There is efficient allocation of resources including its ability to adjust to market changes in an environment that preserves and encourages producer freedom and consumer sovereignty.
-The goods and services produced in a competitive system are governed by market demand in relation to production costs and supply. SS and DD determine an equilibrium price for goods and resources in the industry/market.
-Free entry and exit assures society of the elimination of any economic (supernormal) profits in the LR
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