There are more than 50 blueberry farmers in Shammonton, New Jersey, that grow, package, and distribute the same quality blueberries. 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) pure competition
B) monopolistic competition
C) oligopolistic competition
D) a pure monopoly
E) a black market

Question

Quizplus · Accepted Answer

In pure competition, there are many sellers offering similar products or services, where no single seller can influence the market price. In this scenario, all the blueberry farmers in Shammonton are offering the same quality blueberries, and no individual farmer can charge more than the going market price without the risk of losing business to the other farmers. Hence, it is an example of pure competition.

There Are More Than 50 Blueberry Farmers in Shammonton, New