One of the following is not a characteristic of perfect competition.Which is it?

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In perfect competition, firms are price takers and have no control over the market price, so there is no point in advertising to increase market share. Consumers are sensitive to price and quality, and they pay little attention to brand names. Firms are also aware of their competitors' output levels and adjust their own production accordingly. In the long run, profits are low because there are no barriers to entry and new firms can easily enter the market, increasing competition and driving down prices.

One of the Following Is Not a Characteristic of Perfect