Which of the following is not a characteristic of a perfectly competitive market

Question

Which of the following is not a characteristic of a perfectly competitive market? Answer a. Goods offered for sale are largely the same. b. Firms have difficulty entering the market. c. There are many sellers in the market. d. Firms are price takers. Which of the following is not a characteristic of a perfectly competitive market? Goods offered for sale are largely the same. Firms have difficulty entering the market. There are many sellers in the market. Firms are price takers. a. Goods offered for sale are largely the same. b. Firms have difficulty entering the market. c. There are many sellers in the market. d. Firms are price takers.

Explanation / Answer

b) firns have difficulty entering the market

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