What type of market typically produces the highest level of output at the lowest price to consumers

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Social Studies

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13 April, 10:55

What type of market typically produces the highest level of output at the lowest price to consumers

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Zachariah Lloyd · Answer 1

The type of market that typically produces the highest level of output at the lowest price to consumers is called perfect competition.

Perfect Competition is characterized by many sellers and buyers. With so many market players, buyers and sellers have infinite alternatives to pursue.