In a(n)________ structure,there are many small sellers,each having similar products,and each unable to have a significant impact on the quality,price,or supply of a product.
A)monopoly
B)oligopoly
C)monopolistic competition
D)perfect competition
E)natural competition

Question

Quizplus · Accepted Answer

Perfect competition is characterized by a large number of small firms producing homogeneous products, with no barriers to entry and exit, perfect information, and no ability to influence the market price. In this structure, no individual firm has market power, and hence, price is determined by the forces of supply and demand.

In A(n)________ Structure,there Are Many Small Sellers,each Having Similar Products,and