No, Omega does not operate in a perfectly competitive market. Explanation: In a perfectly competitive market, all firms are price takers, meaning they have no control over the price of the product they sell. They also sell identical products, and there is perfect knowledge about the product and prices. In this case, Omega Travel is differentiated from its competitors by having the best agents and offering superior service. This differentiation means that the products (in this case, travel services) are not identical across all firms, which is a key characteristic of a perfectly competitive market. However, the fact that Omega earns zero economic profits does align with a characteristic of perfect competition, as in the long run, firms in a perfectly competitive market will earn zero economic profits due to free entry and exit. But this alone does not make the market perfectly competitive