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    Question

    Which of the following is a characteristic of a

    ‘perfectly competitive market’?
    A Few sellers Correct Answer Incorrect Answer
    B Homogeneous products Correct Answer Incorrect Answer
    C Barriers to entry Correct Answer Incorrect Answer
    D Price discrimination Correct Answer Incorrect Answer

    Solution

    Solution: In a perfectly competitive market, all firms sell identical or homogeneous products, and there are no barriers to entry, allowing free competition.

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