Question

multiple choice question a market with many buyers and sellers, free entry and exit, and no externalities is called a(n) ______. monopoly cartel oligopolistic market competitive market

Explanation:

A competitive market is defined by having many buyers and sellers, free entry/exit, no externalities, and homogeneous products. A monopoly has one seller, an oligopolistic market has few large sellers, and a cartel is a group of firms colluding in an oligopoly, none matching the given traits.

Answer:

competitive market