There are more than 200 wild blueberry producers in Nova Scotia. An individual farmer cannot charge more than the going market price per unit without the risk of losing business to the other farmers. This is an example of _.
A) a pure monopoly
B) a black market
C) pure competition
D) oligopolistic competition
E) monopolistic competition

Question

Quizplus · Accepted Answer

This scenario describes pure competition, where there are many producers offering a standardized product, and no single producer can influence the market price.

There Are More Than 200 Wild Blueberry Producers in Nova