Which of the following is not a characteristic of pure competition?
A) pricing strategies by firms
B) a standardized product
C) no barriers to entry
D) a larger number of sellers

Question

Quizplus · Accepted Answer

Pricing strategies by firms is not a characteristic of pure competition. In pure competition, all firms are price takers, meaning they have no control over the market price and must sell at the prevailing market price. Therefore, they cannot use pricing strategies to differentiate themselves from competitors.

Which of the Following Is Not a Characteristic of Pure