Consumers fare best in terms of price when dealing with sellers in:
A) oligopolistic markets.
B) monopolized markets.
C) purely competitive markets.
D) monopolistically competitive markets.

Question

Quizplus · Accepted Answer

In purely competitive markets, there are many sellers offering identical products, which leads to price competition and lower prices for consumers. This market structure ensures that no single seller can control the market price, resulting in more favorable prices for consumers.

Consumers Fare Best in Terms of Price When Dealing with Sellers