The market structure of _____ is rare because _____ and _____.
A)monopoly; most goods are not identical; most markets have some dominant firms
B)monopoly; most firms advertise; most markets have many firms
C)perfect competition; most goods are not identical; most markets have some dominant firms
D)perfect competition; most firms advertise; most markets have many firms

Question

Quizplus · Accepted Answer

Perfect competition is rare because most goods are not identical (which violates the perfect competition assumption of homogeneous products) and most markets have some dominant firms (contrary to the perfect competition model which assumes many small firms with no single firm able to influence market prices).

The Market Structure of _____ Is Rare Because _____ and _____

The Market Structure of ___ Is Rare Because _ and ___