In a market consisting of many small, widely dispersed buyers and sellers, the function of which of the following is especially important?

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In a market consisting of many small, widely dispersed buyers and sellers, the function of agents is especially important. This is because agents act as intermediaries between buyers and sellers, facilitating transactions and bridging the information gap between the two parties. Agents can help to locate potential trading partners and negotiate contracts, making it easier for small buyers and sellers to conduct business in such a market. Foreign distributors, licensors, and retailers may also play important roles in certain markets, but they are not as essential in a market characterized by small, widely dispersed buyers and sellers.

In a Market Consisting of Many Small, Widely Dispersed Buyers