Question

When all market participants are price takers who have no influence over prices, the markets have a. numerous buyers but only a few sellers. b. numerous sellers but only a few buyers. c. numerous buyers and sellers. d. only a few buyers and sellers.

Answer 1

numerous buyers and sellers.

Step-by-step explanation:

When market participants are price takers, they have no influence over priced. Prices are set by market forces. Goods are also usually homogenous. If sellers attempt to increase their price, they lose their buyers and if they cut price they make losses.

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