Which of the following does not describe a feature of a perfectly competitive market?

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Every statement here accurately describes a competitive marketThe market consists of numerous buyers and sellersThe products sold are mostly identicalCompanies earn small yet positive economic profits over the long termBusinesses have the freedom to enter or leave the market without restrictions

Explanation

Options A, B, C, and E correctly describe characteristics of a perfectly competitive market. However, option D is incorrect because, in the long run, firms in a competitive market typically earn zero economic profit due to free entry and exit.