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Question
Following is not the feature of perfect competition:
Options
Very large number of buyers and sellers
Homogeneous product
Free entry or exit of firms
Selling costs
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Solution
Selling costs
Explanation:
Under perfect competition, there are no selling costs since the items are homogeneous and the same across enterprises. Firms do not need to differentiate or sell their products because they are all the same, and consumers are well-informed.
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