U.S.agriculture Is a Good Example of ________

question 192

Multiple Choice

U.S.agriculture is a good example of ________.

• A) a monopoly
• B) an oligopoly
• C) perfect competition
• D) monopolistic competition

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Definitions:

Output

A rephrased definition: Refers to the final product or result produced by a process or system.

Competitive Level

A state in a market where firms are able to enter and exit freely, and prices are determined by supply and demand.

Industry

A classification of businesses that perform similar types of work or produce similar goods and services.

Output

The total amount of goods or services produced by a company or economy.