Which of the following best illustrates a product sold in a perfectly competitive market?

Question

Quizplus · Accepted Answer

Eggs are a product sold in a perfectly competitive market because there are numerous small sellers who don't have any market power to influence the price. The product itself is homogeneous, meaning one carton of eggs from one seller is the same as another carton of eggs from a different seller. In addition, it's easy for new sellers to enter the market, making it difficult for any one seller to control the market price.

Which of the Following Best Illustrates a Product Sold in a Perfectly