In a(n) ________ structure, there are many small sellers, each offering 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

In a perfect competition, there are many small sellers offering similar products, and none of them have significant control over price or supply. This structure is characterized by low barriers to entry, homogeneous products, and perfect information among buyers and sellers.

In A(n) ________ Structure, There Are Many Small Sellers, Each