________ occurs when there are many buyers and sellers of products that are virtually identical and any seller can easily enter and exit the market
A) Monopolistic competition
B) A monopoly
C) An oligopoly
D) A duopoly
E) Perfect competition
E
Explanation: E) Perfect competition occurs when there are many buyers and sellers of products that are virtually identical and any seller can easily enter and exit the market. When these conditions exist, no single supplier can influence the price.
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