If Mark Etts expresses a desire to sell his corn at a local farmer's market, he must be aware that the product is standardized and that he will have no control over the market price. The market structure he is MOST likely participating in is

A. differentiated oligopoly.

B. monopolistic competition.

C. pure oligopoly.

D. perfect competition.

Question

Social Studies

Mcclain

6 June, 23:20

If Mark Etts expresses a desire to sell his corn at a local farmer's market, he must be aware that the product is standardized and that he will have no control over the market price. The market structure he is MOST likely participating in is

A. differentiated oligopoly.

B. monopolistic competition.

C. pure oligopoly.

D. perfect competition.

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Answers (1)

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Santos Powell · Answer 1

Answer: D. perfect competition

Explanation:Perfect competition also referred to as an atomistic market is a perfect form of market structure where competition is at its greatest possible level.