Question

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

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.

Answer 2

Answer:

Sellers offer a wide variety of products. Gradpoint

Explanation:

A perfectly competitive market has a large number of firms all producing essentially the same product. The variety of other products offered by the companies should not influence the market for any single product.