Question

True or false: Firms within pure competition will produce standardized products.

a) True
b) False

Answer 1

In pure competition, firms produce standardized products.

Step-by-step explanation:

In pure competition, firms produce standardized products. This means that the products they offer are identical or very similar to those offered by other firms in the market. For example, in the agricultural sector, many farmers produce the same crops such as corn or wheat, which are considered standardized products.

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