Answer: For a competitive market, if a seller charges more than the going price, buyers will go elsewhere to make their purchases.
Step-by-step explanation:
A perfectly competitive market has the following characteristics:
(a). In this particular market there are many buyers and sellers.
(b). Also each company makes similar product. i.e. the products are identical in nature.
(c). In this market buyers and sellers will have access to perfect information about price. and product.
(d). In a competitive market there are no barriers to entry into or exit from the market.
Therefore , if a seller charges more than the going price, buyers will go elsewhere to make their purchases.