Which of the Following Most Closely Approximates the Conditions of a Competitive

Multiple Choice

Which of the following most closely approximates the conditions of a competitive price-searcher market?

A) the market for Grade A eggs, which is characterized by a large number of firms producing a homogeneous product
B) the restaurant industry, which is characterized by firms producing a differentiated product in a market with low entry barriers
C) local cable television service, where a licensed supplier competes with firms offering satellite service
D) the market for jumbo aircraft, where one major domestic firm competes with one major foreign firm