Which of the following is not necessarily a characteristic of a perfectly competitive market structure?

Question

Quizplus · Accepted Answer

Low prices are not necessarily a characteristic of a perfectly competitive market structure. They can result from such a structure due to competition, but they are not a defining characteristic. The defining characteristics include a large number of buyers and sellers, a homogeneous product, perfect information, and easy entry and exit in the long run.

Which of the Following Is Not Necessarily a Characteristic of a Perfectly