1) ____________________ is a unique market structure providing output at the lowest cost over the long...
1) ____________________ is a unique market structure providing output at the lowest cost over the long run.
a.Oligopoly
b.Monopolistic Competition
c.Monopoly
d.Pure competition
Homework Answers
Solution -
Option D.Pure competition is Correct Option
Reason -
Pure competition is a term that describes a market that has a wide range of competitors who sell similar products. This is often known as the perfect competition. The price of the product is determined only by the customers willing to pay.
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