Which of the following is NOT a condition of perfect competition?

A the buyers and sellers deal in identical products

B each buyer and seller works independently and are well informed about the products and prices

C there are few buyers and sellers in the marketplace

D the buyers and seller are able to enter into, conduct, or get out of business

Question

Linda Frederick

Social Studies

9 May, 20:22

Which of the following is NOT a condition of perfect competition?

A the buyers and sellers deal in identical products

B each buyer and seller works independently and are well informed about the products and prices

C there are few buyers and sellers in the marketplace

D the buyers and seller are able to enter into, conduct, or get out of business

+2

Answers (1)

Know the Answer?

Lola Marsh · Answer 1

Deinition of perfect competition: the situation prevailing in a market in which buyers and sellers are so numerous and well informed that all elements of monopoly are absent and the market price of a commodity is beyond the control of individual buyers and sellers.

I would say C is NOT a condition ... but read the question and definition carefully and you decide.