Question:
Which of the following are the features of perfect competition?
Which of the following are the features of perfect competition?
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Perfect competition implies price-taking behavior and many participants, with homogeneous products.
Updated On: Sep 18, 2025
- Product Heterogeneity
- Free entry and exit of firms
- The firm is a price maker
- Large number of buyers and sellers
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The Correct Option is B
Solution and Explanation
Step 1: Perfect competition features: Homogeneous product, free entry/exit, price taker (not maker), large buyers & sellers.
Step 2: Identify correct options: B and D.
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