Question

A feature that is not characteristic of a perfectly competitive market is firms facing a downward sloping marginal revenue curve. no barriers to entry. firms facing a perfectly elastic demand curve. firms as price takers.

          A feature that is not characteristic of a perfectly competitive market is
firms facing a downward sloping marginal revenue curve.
no barriers to entry.
firms facing a perfectly elastic demand curve.
firms as price takers.

Added by Cristian M.

Principles of Microeconomics for AP® Courses

Steven A. Greenlaw, David Shapiro,… 2nd Edition

Chapter 8

Instant Answer

Solved by Expert Chandra Jain

Step 1

In a perfectly competitive market, there are several key characteristics: Show more…

Show all steps

Thanks for your feedback!

A feature that is not characteristic of a perfectly competitive market i

Play audio

Feedback

Chandra Jain and 82 other subject Microeconomics educators are ready to help you.

Ask a new question

Labs

Want to see this concept in action?

NEW

Explore this concept interactively to see how it behaves as you change inputs.

View Labs

Key Concepts

Recommended Videos

Recommended Textbooks

Ace is your personal tutor. It breaks down any question with clear steps so you can learn.

Start Using Ace

Continue solving this problem

Create a free account to:

View full step-by-step solution
Ask follow-up questions with Ace AI
Save progress and study later

Question

A feature that is not characteristic of a perfectly competitive market is firms facing a downward sloping marginal revenue curve. no barriers to entry. firms facing a perfectly elastic demand curve. firms as price takers.

Please give Ace some feedback