Which of the following is not an assumption of perfectly competitive input markets?
A)increasing costs
B)perfect information
C)input homogeneity
D)large numbers

Question

Quizplus · Accepted Answer

The assumption of increasing costs refers to the situation where the cost of production increases as more output is produced. This assumption is not required for perfectly competitive input markets. The other three options (B, C, and D) are all assumptions of perfectly competitive input markets.

Which of the Following Is Not an Assumption of Perfectly