Figure 13-4
-Figure 13-4 above,column "A" represents which type of competitive market?
A) pure monopoly
B) oligopoly
C) monopolistic competition
D) pure competition
E) monopolistic oligopoly

Question

Figure 13-4
-Figure 13-4 above,column "A" represents which type of competitive market?
A) pure monopoly 
B) oligopoly 
C) monopolistic competition 
D) pure competition 
E) monopolistic oligopoly

Quizplus · Accepted Answer

Column "A" represents a perfectly competitive market, also known as pure competition, where there are many buyers and sellers of a standardized product and no single buyer or seller has the ability to influence price. This is reflected in the horizontal demand curve.

Figure 13-4 -Figure 13-4 Above,column "A" Represents Which Type of Competitive Market