Answer to Question #276561 in Marketing for beyonce

Question #276561

identify and explain any five 5 characteristics of a perfectly competitive market structure


1
Expert's answer
2021-12-08T00:38:01-0500

1.     Many Competing Firms- numerous companies produce indistinguishable products.

2.     Similar Products Sold- countless buyers are accessible to buy the product, and numerous sellers are available to sell the product.

3.     Equal Market Share- several sellers are available to sell the product.

4.     Buyers have full information- buyers and sellers have all relevant data to make lucid decisions about the product being bought and sold.

5.     Ease of Entry and Exit- companies can enter and leave the market minus any limitations. 


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