For a market to be characterized by perfect competition, there must be

Question

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For a market to be characterized by perfect competition, all of the options mentioned in the choices must be present. A large number of firms with no ability to influence price, freedom of entry and exit, and indistinguishable products being sold are all crucial components of perfect competition. If any of these elements are missing, the market is not considered a perfect competition.

For a Market to Be Characterized by Perfect Competition, There