Which characteristic is not likely to be a part of perfect competition ?
Strong rivalry
Perfect competition assumes very many small firms selling an identical product, each too small to affect the market price, with free entry and full information. The odd characteristic will be one that contradicts this picture.
Strong rivalry is not a part of perfect competition. Because each firm is a price taker facing a horizontal demand curve, it can sell all it wishes at the ruling price and gains nothing by trying to outdo any particular competitor. There is no strategic contest between named rivals - that kind of rivalry belongs to oligopoly, where a few large firms watch and react to one another. Paradoxically, the most competitive market structure has the least rivalrous behaviour.
The other three do belong to it. Absence of interdependence follows directly from each firm being negligibly small, so no firm's decisions affect another's. Deadweight loss is non-existent because in long-run equilibrium price equals marginal cost and output is allocatively efficient. Absence of advertisement follows from the product being homogeneous and information perfect, leaving nothing to differentiate or inform buyers about.
Hence the characteristic not likely to be part of perfect competition is strong rivalry.
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