Identify the characteristics of markets with perfect competition.
Drag each item on the left to its matching item on the right.
1. Firms produce differentiated products.
2. There are significant barriers to entry and exit to the market.
3. Firms produce very similar products.*
4. Firms have significant price control.
5. Firms are very small relative to the market
6. There is a large number of firms.
7. Firms have no price control.
Option:
a. not perfect competition
b. perfect competition