Final answer:
In a competitive market, sellers may be willing to sell for less than the equilibrium price to attract more buyers and increase their sales volume.
Step-by-step explanation:
The statement “In the goods market, no seller would be willing to sell for less than the equilibrium price” is false. This is because in a competitive market, sellers are willing to sell their goods for less than the equilibrium price if they want to attract more buyers and increase their sales volume. By offering lower prices, sellers can gain a competitive advantage over other sellers and increase their market share.
For example, consider a market for smartphones where the equilibrium price is $500. A seller who wants to increase their sales might decide to sell their smartphones for $450, which is below the equilibrium price. This lower price would attract more buyers and potentially lead to higher sales volume, making it beneficial for the seller even if they are selling below the equilibrium price.
Therefore, it is important to understand that sellers in a competitive market have the flexibility to set their prices below the equilibrium price to gain a competitive advantage and increase their sales.