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

Question

Quizplus · Accepted Answer

Large advertising budgets are not a characteristic of a perfectly competitive market. This is because in a perfectly competitive market, all firms produce identical products, so there is no need for them to advertise their products to differentiate themselves from their competitors.

The Perfectly Competitive Market Structure Includes All of the Following