Final answer:
Limited entry to the market is not characteristic of perfect competition.
Step-by-step explanation:
Perfect competition is a market structure characterized by a large number of buyers and sellers, homogeneous products, no firm can influence the price, and there is free entry and exit into and out of the market.
From the given options, d. Limited entry to the market is not characteristic of perfect competition because firms can freely enter and exit the market without any restrictions.
Perfect competition is defined by the presence of many sellers, identical products (homogeneous product), price-taking behavior by firms (meaning no firm can influence the price), and free entry and exit into the market.
The key characteristic here that does not align with perfect competition is 'limited entry to the market'. In a perfectly competitive market, firms can enter and leave the market without any restrictions, so limited entry is not consistent with the conditions of perfect competition.