Which of these statements is not true for a perfectly competitive market?

free entry and exit

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differentiated products

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large number of sellers

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no information asymmetry

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Solution

The correct option is B
differentiated products

There are no differentiated products in a perfectly competitive market.

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Similar questions

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

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