All of the following are characteristics of a perfectly competitive market except which one?

Question

Quizplus · Accepted Answer

The presence of barriers to entry is not a characteristic of a perfectly competitive market. In a perfectly competitive market, there are no barriers to entry or exit, meaning that new firms can easily enter the market and existing firms can exit without facing significant obstacles. This is what allows for many buyers and sellers to operate within the market, goods to be homogeneous, and transaction costs to be low.

All of the Following Are Characteristics of a Perfectly Competitive