Which of the following statements is NOT characteristic of perfect competition?
A.
. All firms produce the same standardized product.
B.
. There are many producers, and each has only a small market share.
C.
. There are many producers; one firm has a 25% market share, and all of the remaining firms have a market share of less than 2% each.
D.
. There are no obstacles to entry into or exit from the industry.