In a perfectly competitive market, what does the owner of a cooperative typically own?

• A. Government-granted patents for all products
• B. Exclusive rights to set prices in the market
• C. A share of the cooperative's assets and profits
• D. A monopoly over the production of a good

Answer: (C)

Verified step by step guidance

1. Understand the nature of a cooperative: it is an organization owned and operated by a group of individuals for their mutual benefit, often in a perfectly competitive market.
2. Recognize that in a perfectly competitive market, no single owner has exclusive control over prices or production, so options like 'exclusive rights to set prices' or 'monopoly over production' do not apply.
3. Recall that government-granted patents provide exclusive rights to inventions, which is unrelated to typical cooperative ownership.
4. Identify that members of a cooperative typically own shares representing their stake in the cooperative's assets and profits, reflecting their ownership and participation.
5. Conclude that the owner of a cooperative owns a share of the cooperative's assets and profits, aligning with the cooperative's structure and principles.