Which of the following is NOT a characteristic of the purely competitive market model?
A) Products are differentiated.
B) Entry into the market is easy.
C) There is no nonprice competition.
D) There is a very large number of independently acting sellers.

Question

Quizplus · Accepted Answer

In a purely competitive market, products are homogeneous (not differentiated), meaning that no single firm's product is different from another's. This is a key characteristic that distinguishes it from other market structures where product differentiation might occur.

Which of the Following Is NOT a Characteristic of the Purely