Agricultural Products can be modeled best using the model of

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Agricultural products are typically commoditized goods, meaning that they are interchangeable and have little differentiation between suppliers. In a perfectly competitive market, there is no product differentiation, and many small firms compete to sell the product at a market-determined price. The agricultural industry also has many small, independent producers, making it more conducive to a perfect competition model than other market structures like monopolies, oligopolies, or monopolistic competition.

Agricultural Products Can Be Modeled Best Using the Model of