Kim attends the farmer’s market in her hometown of Bakersfield every Sunday. She notices that all of the oranges sold by the many different farmers at the market have roughly the same price, as do most other products that are alike. Which statement best explains why the prices are so similar? The farmer’s market in Bakersfield is an imperfect market so prices are set by the producers. The farmer’s market in Bakersfield is a monopoly because it is the only place to buy fresh fruit on Sundays. The farmer’s market in Bakersfield is a competitive market so prices are set by the consumer. The farmer’s market in Bakersfield is a competitive market so neither the consumer nor the producer has a large influence on the price, allowing for the market to set the price. The farmer’s market in Bakersfield is an imperfect market where Kim’s decision to purchase or not purchase an orange will not change the price of an orange.