Buyers for grain set prices ahead of time by the marketplace.Sellers in this market are simply informed of the price and the amount that is needed.This market is likely one of a(n):
A)pure monopoly.
B)oligopoly.
C)monopolistic competition.
D)pure competition.

Question

Quizplus · Accepted Answer

The fact that buyers set prices ahead of time and sellers are simply informed of the price and amount needed indicates a market with perfect information, where there is no differentiation between the products being sold. This is a characteristic of a pure competition market.

Buyers for Grain Set Prices Ahead of Time by the Marketplace.Sellers