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Many agricultural products, such as wheat, are produced by thousands of different producers that grow essentially...

Many agricultural products, such as wheat, are produced by thousands of different producers that grow essentially the same product. The market structure model that would best characterize such a market is:

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Answer #1

Solution:-Perfect competition.

Explaination:-Many agricultural products, such as wheat, are produced by thousands of different producers that growessentially the same product. The market structure model that would best characterize such a market is Perfect competition.The model of perfect competition best applies to markets with many firms selling identical products.perfect competition Producers enjoy complete freedom of entry and exit from the industry.There are no significant economies of scale relative to the size of the market.

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