Where can a U.S. consumer find an example of the “ideal” supply and de
QUESTION
Where can a U.S. consumer find an example of the “ideal” supply and demand model?
A) auto dealerships
B) electric utilities
C) hospitals
D) farmers markets
E) coffee-and-doughnut chains
ANSWER
Answer: D
Explanation: D) An example of “ideal” supply and demand operates with perfect (equal) competition and no outside influence. Farmers markets are a rare example of perfect competition.
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