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Which of the following is not a characteristic of a perfectly competitive market?A. There are many buyers and sellersB. Firms can freely enter and exit the market. C. Many firms have market power. D. Firms sell very similar products.

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Gtrone007

Answer:

option C is the correct answer

Explanation:

i hope u get it!

In a completely competitive market, several businesses have market power is not a characteristic of PCM.

Explanation:

Option "C" is the correct answer to the following question.

  • Each business is a price taker in a market with perfect competition.
  • The companies lack market power since the number of enterprises is so enormous that any individual firm has little effect on the commodity price.
  • Firms may readily and freely enter the market when there is ideal competition. There are no legal barriers to admission.

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