In which of the following types of market structures would a producer have the least amount of influence in setting prices?
A)Pure competition
B)Monopolistic competition
C)Oligopoly
D)Monopoly

Question

Quizplus · Accepted Answer

In a pure competition market structure, there are many small producers selling an identical product and they have no control over the price as it is determined by the market forces of supply and demand. Therefore, a producer has the least amount of influence in setting prices in a pure competition market structure.

In Which of the Following Types of Market Structures Would