The perfectly competitive market structure includes all of the following except
A)Many firms.
B)Identical products.
C)Large advertising budgets.
D)Low entry barriers.

Question

Quizplus · Accepted Answer

A perfectly competitive market structure is characterized by many firms producing identical products, low entry barriers, and no control over the price by individual firms. Large advertising budgets would suggest that firms have some degree of control over the price or characteristics of their products, which is not consistent with perfect competition.

The Perfectly Competitive Market Structure Includes All of the Following