Which type of seller is operating in the most competitive market? a. a hospital providing a...
Which type of seller is operating in the most competitive market?
a. a hospital providing a variety of medical services
b. a firm offering cell phone service
c. a farmer selling soybeans
d. a firm selling search engine advertisements
Homework Answers
Answer
Option c
c. a farmer selling soybeans
the most competitive market has identical goods and the entry in the market is free and easy and that is the farming industry.
the hospital is a restricted entry as need some professional qualification, a firm selling sells phone is in an oligopoly or monopolistic competition as per country
the advertising in the most competitive market is not effective so it is not a competitive market.
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