Question

What happens when sellers compete with other sellers to meet consumer's demands, and consumers compete with other consumers to find the goods with the lowest cost and the highest quality? Multiple select question. Markets are efficient. Markets are competitive. Markets are regulated.

Answer 1

Markets are competitive.

Step-by-step explanation:

In the competitive market, the number of sellers competed with each other in terms of prices, quality, maximize the market share.

In the given situation, various sellers are competed with each other for meeting out the consumer demands also at the same time it offers the goods at lowest cost and highest quality so that it capture the whole market

Therefore the second option is correct