____________ exists when many independent sellers offer products in the same basic way.

Question

Quizplus · Accepted Answer

Pure competition is the only market structure where many independent sellers offer products in the same basic way. In this market, no individual seller has control over the price of the product, and all the firms are price takers. Each seller's product is identical to that of its competitors, and there are no significant barriers to enter or exit the market.

____________ Exists When Many Independent Sellers Offer Products in the Same