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AP® Microeconomics

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Perfect Competition: Identifying a Product

APMICR-A0SVE1

Which of the following products is most likely to be produced in a perfectly competitive market?

A

Custom-designed jewelry produced by specially trained professionals

B

Oranges produced by many different small orchard owners

C

Chicken nuggets sold by a few large producers

D

Bread products that are differentiated based on the method of processing flour

E

Electric power provided by a company subject to government regulations on price