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

CA Foundation · Business Economics · PYQS · May 2025
Which of the following is not a feature of perfect competition market?
(A) A. Very large number of sellers
(B) B. Homogeneous products
(C) C. Inelastic demand
(D) D. Firms are price takers

Suggested Answer and Working Notes:

Correct Answer: Option (C)

C. Inelastic demand

Topics: Price Determination in Different Markets

Open in Interactive Practice Hub · Full Practice Hub · Chapter Weightage · More in this subject

Related Questions in this Topic