In Lima, Peru, 20 stores specializing in selling the same quality and brand of wheat products are located on one street.An individual seller cannot charge more than the going price without the risk of losing business to the other stores.This is an example of what type of market?
pure competition
monopolistic competition
oligopolistic competition
pure monopoly
socialist

Question

Quizplus · Accepted Answer

The Answer of In Lima, Peru, 20 stores specializing in selling the same quality and brand of wheat products are located on one street.An individual seller cannot charge more than the going price without the risk of losing business to the other stores.This is an example of what type of market?
pure competition
monopolistic competition
oligopolistic competition
pure monopoly
socialist

In Lima, Peru, 20 Stores Specializing in Selling the Same