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 ____.   monopolistic competition   pure competition   an oligopoly   a monopoly   modified competition

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter9: Monopolistic Competition And Oligoply
Section: Chapter Questions
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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 ____.

 

monopolistic competition

 

pure competition

 

an oligopoly

 

a monopoly

 

modified competition

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