Question

All of the following are characteristics of a perfectly competitive market except: Group of answer choices barriers to entry perfectly elastic demand a large number of sellers a homogeneous product

Answer 1

barriers to entry

Step-by-step explanation:

The characteristics or attributes of the perfectly competitive market are as follows

1. There are large number of buyers and seller who purchase and sales similar kind of products

2. No transaction is involved

3. No barrier for entry and exit into the market

4. It contains the perfectly elastic demand

5. Perfect knowledge about the products

Therefore the first option is considered