If a Florida strawberry wholesaler operates in a perfectly competitive market,that wholesaler will have a _____ share of the market,and consumers will consider her strawberries and her competitors' strawberries to be _____.Therefore,_____ advertising will take place in this market.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, no individual wholesaler has a large share of the market, hence the answer choice A is incorrect. Also, in a perfectly competitive market, the products are standardized, meaning that they are identical or very similar, making answer choice D incorrect. As a result, the correct answer is B, where the wholesaler has a small share of the market and the strawberries are standardized. In such a market, there is little or no advertising as there is no need to promote the product since it is identical or very similar to its competitors.

If a Florida Strawberry Wholesaler Operates in a Perfectly Competitive