The Four Important Characteristics That Define a Perfectly Competitive Market

Multiple Choice

The four important characteristics that define a perfectly competitive market are:

A) a standardized good, full information, no transaction costs, and price-taking participants.
B) standardized information, a finished good, no transaction costs, and price-making participants.
C) a standardized good, the same information for buyers and sellers, low transaction costs, and price-taking participants.
D) a standardized good, full information, no transaction costs, and price-making participants.