In Sao Paulo,Brazil,there are more than 20 stores specializing in selling the same quality and brand of wheat products located in one street.An individual seller cannot charge more than the going price without the risk of losing business to the other stores.This is an example of what type of market?
A)pure competition
B)monopolistic competition
C)oligopolistic competition
D)a pure monopoly
E)black market

Question

Quizplus · Accepted Answer

This scenario describes a market with many sellers offering identical products, where no single seller can influence the market price, characteristic of pure competition.

In Sao Paulo,Brazil,there Are More Than 20 Stores Specializing in Selling