Which of the following is a feature of perfectly competitive market?
A) There are many buyers and sellers.
B) Not all goods are homogeneous.
C) Resources are static.
D) Knowledge of the market is imperfect.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, one of the key features is that there are many buyers and sellers, which ensures no single buyer or seller can influence the market price. This creates a situation where the price is determined by the overall supply and demand in the market.

Which of the Following Is a Feature of Perfectly Competitive