The market for corn in Brazil has a large number of sellers and there is no difference in the products sold by each seller.As there are also a large number of buyers for corn,the actions of a single seller or buyer cannot affect the price.The market for corn in Brazil can be described as ____.
A)a monopoly
B)monopolistic competition
C)pure competition
D)an oligopoly
E)modified competition

Question

Quizplus · Accepted Answer

This scenario describes a pure competition market, characterized by a large number of sellers and buyers, homogeneous products, and the inability of single entities to influence market prices.

The Market for Corn in Brazil Has a Large Number