Question

We consider ________ least likely to be a firm in an imperfectly competitive industry. A) a Starbucks in Houston, Texas B) Con Edison utility company C) a corn farmer in Ohio D) the only locally owned and operated television station in Portland, Oregon\

Answer 1

Answer: C) a corn farmer in Ohio

Step-by-step explanation:

When a firm is said to be in an imperfectly competitive industry, this means that the firms involved cannot compete effectively amongst themselves because they either have a small number of firms competition or they sell products that aren't similar. Examples include monopolies and oligopolies.

Ohio is the seventh largest corn producing state in the United States which means that there must be a lot of farmers producing corn. A corn farmer in this state is therefore most likely to be in a perfectly competitive industry not an imperfect one.