Perfect competition is characterized by all of the following except

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Perfect competition is characterized by all of the following except Group of answer choices a horizontal demand curve for individual sellers. heavy advertising by individual sellers. sellers are price takers. homogeneous products.

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Answer:  heavy advertising by individual sellers is not a characteristic of perfect competition because in perfect competition it is assumed that both suppliers and consumers have perfect information about the product and its market. This means that by advertising the firm would gain no benefit and would only increase their marginal cost, as consumers already have information and the product is homo genus, which means that you cannot differentiate your product by advertising, therefore advertising wont increase the demand of your product, therefore it will only increase cost

Explanation:


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