Which of the following is a characteristic of perfect competition?

A) While there are many firms,relatively few tend to influence the market price.
B) The firms that can distinguish its product from its competitors are the ones that usually succeed.
C) Some barriers to entry into the market exist.
D) In the buyers mind,the products are identical.

Perfect Competition

A market structure characterized by a large number of small firms, a homogeneous product, freedom of entry and exit, and perfect information.

Barriers

Obstacles that prevent or hinder the movement or action of goods, services, people, or information.

Identical Product

A product that is exactly the same as another in every way, making it indistinguishable in terms of quality, appearance, and function.