A) Which statements describe characteristics of pure competition? Check all that apply.

B) Prices are set by supply and demand alone. It is difficult for producers to enter

the market.

C) Producers provide identical goods to consumers.

D) There are many producers, and each has a small market share.

E) Only one producer controls the market.

F) It is a theoretical state that is only approximated in the real world.

Question

Barnes

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18 March, 18:17

A) Which statements describe characteristics of pure competition? Check all that apply.

B) Prices are set by supply and demand alone. It is difficult for producers to enter

the market.

C) Producers provide identical goods to consumers.

D) There are many producers, and each has a small market share.

E) Only one producer controls the market.

F) It is a theoretical state that is only approximated in the real world.

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Answers (1)

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Skye · Answer 1

The probable answers would be:

Prices are set by supply and demand alone.

Producers provide identical goods to consumers.

There are many producers, and each has a small market share.

Because in a pure competition many sellers are in the market competition and they sell the same products with the same price. Also buyers and sellers could not influenced the price of the products due to the reason that there are a lot of sellers and buyers and no one could monopolize the selling and there is the government that regulates.