A Market Structure in Which Many Firms Are Selling an Identical

question 152

Multiple Choice

A market structure in which many firms are selling an identical product is called

• A) perfect competition.
• B) monopolistic competition.
• C) oligopoly.
• D) monopoly.

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Definitions:

Employer

An individual or organization that hires people to work for wages or salary, responsible for providing employment conditions, tasks, and remuneration.

Uniform Electronic Transactions Act

A law adopted by states to give legal recognition to electronic signatures and records in commercial and governmental transactions.

Electronic Transactions

Financial transactions or exchanges of information conducted electronically over the internet or other computer networks.

Written Document

A tangible representation of information or contractual terms that has been penned or printed on paper or similar material, serving as evidence or record.