When many sellers are involved in selling their products in a market, the market structure may be which of the following? i. perfect competition
ii. monopolistic competition
iii. monopoly

Question

When many sellers are involved in selling their products in a market, the market structure may be which of the following? i.    perfect competition
ii.     monopolistic competition
iii.  monopoly

Quizplus · Accepted Answer

In a market with many sellers, the structure can be either perfect competition or monopolistic competition. Monopoly involves a single seller, so it is not applicable.

When Many Sellers Are Involved in Selling Their Products in a Market