Q. Which among the following is NOT a condition for perfect competition?
Answer: Informative advertising to ensure that consumers have a good information
Notes: In perfect competition, firms are price takers, and there is no need for informative advertising since products are homogeneous. Consumers have complete information about prices and products, making advertising unnecessary. The other conditions—perfect mobility of factors, a large number of firms, and freedom of entry and exit—are essential for maintaining competition. Thus, informative advertising is not a condition for perfect competition.