Which of the following is one of the necessary conditions for perfect competition?
A) Diminishing utility
B) No barriers to entry
C) Differentiated products
D) Indivisible setup costs

Name: Which of the following is one of the necessary conditions for perfect competition? A) Diminishing utility B) No barriers to entry C) Differentiated products D) Indivisible setup costs
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Question

Quizplus · Accepted Answer

In perfect competition, there are no barriers to entry, allowing firms to freely enter and exit the market.

Which of the Following Is One of the Necessary Conditions