Which of the following is not a characteristic of a perfect competitive market?
A) Price, cost, and quality information are equally distributed.
B) A nearly infinite set of suppliers compete against one another.
C) Customers have access to all relevant information worldwide.
D) It is highly regulated.

Question

Quizplus · Accepted Answer

Perfectly competitive markets are characterized by price, cost, and quality information being equally distributed, a nearly infinite set of suppliers competing against one another, and customers having access to all relevant information worldwide. However, they are not highly regulated - in fact, regulation can often lead to market distortions and reduce competitiveness.

Which of the Following Is Not a Characteristic of a Perfect