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

Question

Quizplus · Accepted Answer

Pure competition is characterized by a large number of small firms, identical products, and easy market entry and exit, which is typically represented in economic models by column "C".

In Figure 13-4 Above,column "C" Represents Which Type of Competitive