Which of the following market models is least likely to be encountered in the real world?
A) Monopolistic competition
B) Oligopoly
C) Pure competition
D) Oligopsony
E) Monopsony

Question

Quizplus · Accepted Answer

Pure competition, characterized by a large number of sellers offering identical products with no single seller able to influence price, is the least likely to be encountered in the real world due to product differentiation and market power of individual firms.

Which of the Following Market Models Is Least Likely to Be