The definition of a trial is  a hearing in a court case, a test or a hardship. An example of trial is the court case of an accused robber. An example of trial is the use of a small size bottle of shampoo to sample the product.
An example of a market that meets all four conditions for perfect competition is: wheat. A market structure with many sellers and many buyers is: perfect competition. Offering products of different tastes and shapes is an example of: nonprice competition. An example of a barrier to entry is: high start-up costs. Compared to a market with perfect competition, a monopoly often has: higher prices and fewer goods. In many industries, deregulation has resulted in: lower prices for consumers. A market that is an oligopoly has: a few firms dominating the market.
The state of long-run equilibrium in a competitive market, otherwise known as perfect competition in the long run, is quite similar to a long-term competitive monopoly. In the latter case, demand for a product eventually increases along with the cost, which also levels a firm s revenue to zero profit margins.erfect Competition. Zero economic profit most often arises in perfect competition, as it is typically a result of competitive businesses driving down profits and preventing a firm from earning more money than it spends in production costs.