Suppose that at a local farmers' market there are a large number of vegetable sellers. Some sell zucchini, some sell broccoli, some sell Brussels sprouts, and so on. This week, the zucchini sellers decide to gang together and fix the price of zucchini at a price higher than they would sell otherwise. Which of the following statements is most likely true? a. The zucchini sellers will not sell any zucchini.
b. The zucchini sellers will be able to earn a lot more money.
c. The zucchini sellers have limited market power because consumers have many alternatives.
d. The zucchini sellers will enjoy a large degree of market power.

The true statement is the zucchini sellers have limited market power because consumers have many alternatives.

A monopolistic competition is when there are plenty sellers of unidentical goods and services in an industry.

A monopolistic competition has characteristics of both a monopoly and a perfect competition. The demand curve in a monopolistic competition is downward sloping.

Broccoli is a substitute for zucchini. So, if zucchini sellers increase the price of their good, consumers can begin to consumer more broccoli.

To learn more about monopolistic competition, please check: link

c. The zucchini sellers have limited market power because consumers have many alternatives.

Explanation:

As the Zucchini sellers have fixed the price such that it is the same for all of them, they will have market power in the sale of Zucchini.

In terms of the whole market however, they will have only limited power because even though they control the pricing of Zucchini, there are other alternatives there that they do not control and can be switched to by other consumers.

match the scenarios with terms related to financial aid.

pell grant

student loan

merit-based scholarship

richard is one of the leading college basketball players in the state of florida. he also maintains a good academic record. looking at his talent and potential, furman university offers to bear the expenses for his college education.

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anita wants to pursue a certificate program in sports nutrition. to pay for the course, she borrows money by filing the fafsa.

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nathan comes from a low-income household. he wants to pursue an undergraduate degree in marketing. he receives financial aid covering 50 percent of his college expenses. nathan does not have to pay back this amount.

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