In general, which of the following competitive structures is an organization least likely to operate?
A) Monopoly
B) Monopolistic competition
C) Oligopoly
D) Elastic competition
E) Pure competition

Question

Quizplus · Accepted Answer

Pure competition is an idealized market structure in which there are many buyers and sellers, and each firm produces an identical product. In this type of market, firms are price takers, meaning that they have no control over the price of their product. As a result, firms in pure competition are least likely to be able to operate profitably.

In General, Which of the Following Competitive Structures Is an Organization