Which of the Following Characteristics of a Farmers' Market Make

Multiple Choice

Which of the following characteristics of a farmers' market make it a good example of a perfectly competitive market?

A) Selling product at a farmers' market was very profitable for farmers in the early 2000s. As result, many farmers sold their farms to larger firms.
B) Farmers who sell product at a farmers' market are similar to other entrepreneurs who introduce products that earn short-run profits but invite competition that drives down prices and profits in the long run.
C) Farmers who sell product at a farmers' market are similar to other business owners who take advantage of the willingness of some consumers to pay high prices for new and different products.
D) Farmers selling product at a farmers' market provide a product that is a necessity, rather than a luxury.