What kind of market structure is pure competition?
A) One where there are few firms.
B) One where the difference between one company's product over another company's product is not that clear to consumers.
C) One where one firm serves the market.
D) One where firms offer a unique marketing mix based on price and other variables.
E) One where products are clearly distinguished by brand names.

Question

Quizplus · Accepted Answer

In pure competition, products are homogeneous, meaning there is little to no differentiation between products offered by different firms, making it difficult for consumers to distinguish between them.

What Kind of Market Structure Is Pure Competition