Which of the following best illustrates a perfectly competitive market?

Name: Which of the following best illustrates a perfectly competitive market?
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Question

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Soybean farming is a commodity with identical products, a large number of small firms with no market power, and easy entry and exit. Therefore, it best illustrates a perfectly competitive market. Soft drinks and automobiles have brand differentiation, and electric power has high barriers to entry and often operates as a monopoly or oligopoly.

Which of the Following Best Illustrates a Perfectly Competitive Market