Answer
A. Perfectly competitive
B. Perfectly competitive
C. Monopoly
D. Monopolistically competitive
E. Monopolisitcally competitive
Work Step by Step
A. No. 2 pencils are standardized and there are numerous companies that produce them.
B. Regardless of the seller, copper as a product is always the same.
C. Local telephone services are natural monopolies because one set of wires can serve a population just fine. With only one telephone service provider, efficiency is actually maximized; there is no need for multiple sellers.
D. There are many different brands of peanut butter, and the product from each company is slightly different.
E. Lipstick from different sellers are slightly different (color, consistency, etc), and companies use advertisement to emphasize the differences and promote their product.
