ANSWER IS C. PERFECT COMPETITION
Suppose there are 1,000 businesses that produce widgets. These widgets are all basically the same, performing similar tasks with
little-to-no difference in their design or performance. The market for widgets would be classified as what kind of market structure?
A)
Monopoly
B)
Oligopoly
Perfect Competition
D)
Monopolistic Competition
ANSWER IS C. PERFECT COMPETITION
