which of these is the best economic definition of "pure competition"?a) the market is dominated by one seller b) the market is d

Question

3 years ago

6

which of these is the best economic definition of "pure competition"?a) the market is dominated by one seller b) the market is d

ominated by a few buyers c) the market is dominated by two or more sellers d) the market is not dominated by either buyers or sellers

Social Studies

2 answers:

Ludmilka [50] · Answer 1 · 2022-06-10T09:56:15+03:00

Ludmilka [50]3 years ago

8 0

<span>D) the market is not dominated by either buyers or sellers</span>

Georgia [21] · Answer 2 · 2022-06-10T07:59:32+03:00

The right option is; c) the market is dominated by two or more sellers

A pure competitive market is a market in which there are a large number of sellers and buyers that are dealing in similar products. This type of market has so many competitors that sells the same product or service with the same price and quality. The price of products in a pure competitive market is determined by what consumers are ready to pay.