The Market for Corn in Brazil Has a Large Number

question 57

Multiple Choice

The market for corn in Brazil has a large number of sellers and there is no difference in the products sold by each seller.As there are also a large number of buyers for corn,the actions of a single seller or buyer cannot affect the price.The market for corn in Brazil can be described as ____.

• A)a monopoly
• B)monopolistic competition
• C)pure competition
• D)an oligopoly
• E)modified competition

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Definitions:

Article 2

A section of the Uniform Commercial Code that governs the sale of goods, specifying the rights, duties, and liabilities of parties involved.

Vehicles

Means of transport that are designed to move people or goods from one place to another, including cars, trucks, buses, and bicycles.

Appliances

Electrical or mechanical devices designed to perform household functions, such as refrigerators or washing machines.

Stocks

Financial instruments that represent ownership shares in a corporation, giving holders a claim on the corporation's earnings and assets.