marketplace sets the price for wheat,so farmers who are trying to sell their wheat crops don't have to create a pricing strategy.The wheat is sold in a(n)__________ type of competitive market.
A) oligopoly
B) pure monopoly
C) pure competition
D) monopolistic competition
E) monopolistic oligopoly

Question

Quizplus · Accepted Answer

Pure competition is a type of market structure where there are many buyers and sellers, and no single buyer or seller has control over the market price. In this type of market, the price is determined by supply and demand forces, and sellers have no control over the price. Since the marketplace sets the price for wheat, it is a good example of a pure competition market.

Marketplace Sets the Price for Wheat,so Farmers Who Are Trying