Which of the following products would most closely fit the competitive price-taker model?
A) stereo systems-there are many reputable brands.
B) beer-it has many consumers.
C) eggs-there are many producers of this relatively homogeneous product.
D) automobiles-there are substantial economies of scale in production.

Question

Quizplus · Accepted Answer

Eggs are a homogeneous product with many producers, fitting the competitive price-taker model where no single producer can influence market prices.

Which of the Following Products Would Most Closely Fit the Competitive