PRC-3 · Chapter 12 · Question 47 of 69
Which of the following is NOT a characteristic of a market displaying Perfect Competition?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) Products are highly differentiated through strong branding
Explanation
Perfect competition relies on all firms selling completely identical, homogeneous products. Product differentiation and branding are characteristics of Monopolistic Competition and Oligopoly.
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