Question

If a Florida strawberry wholesaler operates in a perfectly competitive market, that wholesaler will have a _____ share of the market, and consumers will consider her strawberries and her competitors' strawberries to be _____. Therefore, _____ advertising will take place in this market. large; differentiated; extensive large; standardized; no small; differentiated; no small; standardized; little or no

Answer 1

Answer:

small; standardized; little or no

Explanation:

A perfect competition is when there are many firms in an industry selling standardised or identical goods and services. It is characterised by many buyers and sellers . Sellers have small market share because of the large number of sellers in the market. Prices are usually set by market forces. Sellers cannot influence the price their products sell for , therefore, they are price takers.

There is little or no need for advertising as all firms sell identical goods.

I hope my answer helps you.