Which of the following is not the assumptions of the perfectly competitive market?

Which of the following is not the assumptions of the perfectly competitive market?

The correct answer is C. restrictions on entry into the market

What are the assumptions of a perfectly competitive market?

A perfectly competitive market has following assumptions:

  • Large Number of Buyers and Sellers: ADVERTISEMENTS:
  • Homogeneous Products:
  • No Discrimination:
  • Perfect Knowledge:
  • Free Entry or Exit of Firms:
  • Perfect Mobility:
  • Profit Maximization:
  • No Selling Cost:

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

This option is correct because the ability to control the price is not characteristic of perfect competition. In a perfectly competitive market, the price chose by industry and the price is taken by a firm.

Which of the following is not a perfect competition?

Small number of buyers and sellers is not a feature of perfect competition.

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

A perfectly competitive market has following assumptions:

  • Large Number of Buyers and Sellers: ADVERTISEMENTS:
  • Homogeneous Products:
  • No Discrimination:
  • Perfect Knowledge:
  • Free Entry or Exit of Firms:
  • Perfect Mobility:
  • Profit Maximization:
  • No Selling Cost:

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