Which of the following can be considered a competitive market? a. market for fast food...
Which of the following can be considered a competitive market?
| a. |
market for fast food |
|
| b. |
market for cars |
|
| c. |
market for U.S. treasury bonds |
|
| d. |
international market for coffee beans |
Homework Answers
Option D. International market for coffee beans
Explanation: In a competitive market, there are a large number of buyers and sellers and each firm sells an identical product. In addition, each firm controls a very small share of the entire market. Similarly, in the international market for coffee beans, there are a large number of buyers and sellers of coffee beans. Also, each seller sells almost the same identical coffee beans. Moreover, each seller has a very small share of the entire international market for coffee beans. So, it is a competitive market.
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