_________,there are many sellers and they each have a similar product,such as commodities common to agribusinesses.
A) limited competition
B) pure competition
C) oligopoly competition
D) monopolistic competition
E) a monopoly

Question

Quizplus · Accepted Answer

In pure competition, there are many sellers and they each offer a similar product, which makes it difficult for any one seller to exert control over the market price. This scenario fits the description given in the question. Limited competition would indicate that there are some barriers to entry for new sellers, oligopoly competition would indicate a small number of large sellers dominating the market, monopolistic competition would indicate sellers offering differentiated products, and a monopoly would indicate a single seller with no competitors.

_________,There Are Many Sellers and They Each Have a Similar