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

Question

Quizplus · Accepted Answer

Price strategies by firms are not a characteristic of pure competition. In pure competition, all firms sell the same standardized product at the same price, and there is no room for price differentiation or strategy.

Which of the Following Is Not a Characteristic of Pure