The Kapiti region in New Zealand’s lower North Island produces a lot of market v

Question

The Kapiti region in New Zealand’s lower North Island produces a lot of market vegetables from many vegetable farms. Suppose the sole input into the production of vegetables is the labour required to harvest. Which of the following statements regarding market structure do you think is most likely to be true?

Select one:

a. the market for vegetables is competitive and the supply of vegetable pickers is a monopoly

b. the market for vegetables is competitive and the market for vegetable pickers is competitive

c. the market for vegetables is a monopoly and the market for vegetable pickers is competitive Incorrect

d. the market for vegetables is a monopoly and the supply of vegetable pickers is a monopoly

Explanation / Answer

The market for Vegetables is competitive because lot of vegetables are produced from lot of farms.

The supply of vegetable pickers is also competitive because more than one unit of labour are used in the production.

Answer-b

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