Which of the following is NOT a characteristic of perfectly competitive markets?
A)Transactions costs are a very small part of the sale.
B)All market participants are price-takers.
C)It is easy to find a trading partner.
D)Products are differentiated.

Question

Quizplus · Accepted Answer

Perfectly competitive markets are characterized by homogeneous products where all firms sell identical products, making it impossible to differentiate them. Therefore, option D is not a characteristic of perfectly competitive markets. The other three options (A, B, and C) are all characteristics of perfectly competitive markets.

Which of the Following Is NOT a Characteristic of Perfectly