Pure competition characterizes a market that consists of
A) only one seller
B) a few sellers who dominate the market
C) many buyers and sellers and products that vary greatly in the same product category
D) many buyers and sellers, where no buyer or seller can control price or the market

Question

Quizplus · Accepted Answer

Pure competition is a market structure characterized by many buyers and sellers, where no single buyer or seller has the power to control prices or the market.

Pure Competition Characterizes a Market That Consists of