A large number of buyers and sellers is a feature of _____________.

Monopoly

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Perfect competition

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Discriminating monopoly

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Oligopoly

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Solution

The correct option is C Perfect competition
Perfect Competition : The number of buyers and sellers in the market is very large. These buyers and sellers compete among themselves. Due to the large number, no buyer or seller influences the demand or supply in the market.

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Similar questions

Explain 'large number of buyers and sellers' as a feature of perfectly competitive markets.

Which of the following is not a feature of perfect competition ?

(a) Large no. of buyers

(b) Free entry and exit

(d) Differentiated products

Explain the implications of the following features of perfect competition:

(a) large number of buyers and sellers

(b) freedom of entry and exit to firms

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