Which of the following is not a condition for pure competition?
A) Large number of sellers
B) Sellers are small enough that no one can overly influence the market
C) Involves a heterogeneous product or service
D) Unrestricted entry

Question

Quizplus · Accepted Answer

Pure competition involves a homogeneous product, where all goods or services are the same or similar. Therefore, option C, which mentions a heterogeneous product or service, is not a condition for pure competition. The other options - A, B, and D - are all conditions for pure competition.

Which of the Following Is Not a Condition for Pure