Markets with a large number of sellers producing identical products, and that are easy to enter and exit are:
A) oligopolistic.
B) monopolized.
C) purely competitive.
D) monopolistically competitive.

Question

Quizplus · Accepted Answer

Markets that are purely competitive feature a large number of sellers producing identical (or very similar) products, and they are characterized by easy entry and exit for firms. This ensures that no single seller can significantly influence the market price of the product.

Markets with a Large Number of Sellers Producing Identical Products