Which of the following is not a characteristic of a perfectly competitive market? a. There are many
Question:
Which of the following is not a characteristic of a perfectly competitive market?
a. There are many buyers and sellers.
b. The firms sell differentiated products.
c. Firms are price-takers.
d. Buyers and sellers have full information about the product and its price.
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The correct answer is b The firms sell differentiated products In a perfectly competitive market all firms sell identical or homogeneous products This ...View the full answer
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