An individual seller has no control over the price of its product in:
A) oligopoly.
B) pure competition.
C) monopolistic competition.
D) all of the above.

Question

Quizplus · Accepted Answer

In a pure competition market structure, there are many sellers offering identical products, and no single seller can influence the market price. This is because the products are perfect substitutes, and buyers can easily switch from one seller to another with no cost or difference in product quality.

An Individual Seller Has No Control Over the Price of Its