Question #227347

Which one of the following is not a requirement for or a characteristic of perfect competition? 

  • A. all market participants should have perfect knowledge of market conditions.
  •  B. the good must be homogeneous.
  •  C. there should be no government intervention.
  •  D. every firm must have the power to set its price

Expert's answer

D. every firm must have the power to set its price

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