Which of the following is the closest example of a perfectly competitive market?
A) the market for cars
B) the market for bread
C) the market for handmade soaps
D) the market for athletic shoes
E) the market for newspapers

Question

Quizplus · Accepted Answer

The market for bread is the closest example of a perfectly competitive market because there are many producers and consumers of bread, no single producer has enough market power to affect the price, and the product is standardized.

Which of the Following Is the Closest Example of a Perfectly