Option d. Firms can enter and leave the industry without serious impediments is the correct answer. When considering perfect competition the absence of entry barriers implies that firms can enter and leave the industry without serious impediments.
The restrictions imposed on the firms to enter the market to sell their products are known as entry barriers. Entry barriers reduce the level of competition between the firms in the market.
Option d. Firms can enter and leave the industry without serious impediments is correct.
It is a correct option because when there are no entry barriers, the firms in that industry can enter the market anytime and they do not have to deal with any sort of impediments. Firms with no entry barriers are not restricted from entering the market.
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