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Which idea is inconsistent with the perfect competition?
A. product differentiation
B. freedom of entry or exit for firms
C. a large number of buyers and sellers
D. price-taking behavior
Which idea is inconsistent with the perfect competition?
A. product differentiation
B. freedom of entry or exit for firms
C. a large number of buyers and sellers
D. price-taking behavior
Divya SinghLv10
13 Jan 2021
Related textbook solutions
Related questions
Which of the following is not characteristic of perfect competition?
| a. | many buyers and sellers |
| b. | brand name advertising |
| c. | standardized products |
| d. | fully informed buyers and sellers |
| e. | free entry and exit of firms |
