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Answer :
The market structure for colored pencils is a form of B. imperfect competition.
Imperfect competition refers to a market structure where there are multiple sellers and buyers, but the products offered by different sellers are not identical.
In the case of colored pencils, there are numerous brands available, each offering pencils with different features such as color variety, structural integrity, and pigmentation.
Additionally, there is differentiation among brands based on target consumers, with some brands catering to students and others targeting professional artists. This differentiation in products and target markets creates a situation of imperfect competition where firms compete but do not offer identical products.
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