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The market for which item generally involves pure competition?

A. cola
B. corn
C. jeans 
D. ice cream

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Kristelle Balando
Kristelle BalandoLv10
31 Aug 2020

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Related questions

Which of the following would be considered a commodity in a perfectly competitive market?
A. Cola
B. Milk
C. Jeans
D. Postage stamps

7. Suppose that the U.S. government imposes the tax on ice cream sellers of $0.50 per gallon of ice cream. If the market price of ice cream rises by $0.10 per gallon, we know that: (a) the demand for ice cream is more inelastic than the supply of ice cream. (b) the supply of ice cream is more inelastic than the demand for ice cream. (c) the demand for ice cream is unit elastic. (d) ice cream companies are being nice.

In which of the following statements are the terms "demand" and "quantity demanded" used correctly?

a. when the price of ice cream rises, the quantity demanded of ice cream falls and the demand for ice cream topping falls.

b. when the price of ice cream rises, the demand for ice cream falls and the quantity demanded of ice cream topping falls.

c. when the price of ice cream rises, the demand for ice cream and ice cream topping falls.

d. none of the choices are correct.

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