The district of Dansas in Nerito, a European country, is a major producer of walnuts. All producers in the district sell packaged walnuts. The market structure is flexible enough for producers to enter and leave the market as and when they wish, but no single producer has control over the prices of the product. Which of the following market structures is existent in Dansas?
A)Pure competition
B)Monopoly
C)Monopolistic competition
D)Oligopoly

Question

Quizplus · Accepted Answer

The market structure described is pure competition, where there are many producers, no single producer can control prices, and there is free entry and exit in the market.

The District of Dansas in Nerito, a European Country, Is