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In a competitive market, every consumer willing to pay the market price can buy a product and every producer willing to sell the product at that price can sell it. (A) True (B) False
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In a competitive market, every consumer willing to pay the market price can buy a product and every producer willing to sell the product at that price can sell it.

(A) True
(B) False

User SirGuy
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1 Answer

4 votes

Answer:

The correct answer is True.

Step-by-step explanation:

A competitive market is one in which there are many buyers and many sellers, so each one has an insignificant influence on the market price. Each seller controls the price to a limited extent, as others offer similar products. You have few reasons to charge a lower price than the current one, and if you charge more, buyers will go to others. Also, no buyer can influence its price, since each one only buys a small amount.

User Agibsen
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