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in vin del mar, chile, there are a dozen stores specializing in selling the same quality of seafood products on one street. an individual store dare not charge more than the going price without the risk of losing business to the other stores that are selling the fish at a common price. this is an example of what type of market

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This is an example of what type of market of purely competition.

  • A marketing scenario where many companies sell the same product and cannot differentiate themselves from one another; as a result, no firm has a substantial impact on price.
  • The ease with which new businesses can enter the market and great market knowledge are further existing factors.
  • Agricultural items like corn, wheat, and soybeans are some of the best examples of markets that are just competitive. The presence of numerous suppliers and the lack of significant entry barriers make monopolistic competition similar to pure competition.

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