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harina [27]
2 years ago
8

Competition in a market system denotes a condition where A. the diffusion of economic power limits its potential abuse. B. any g

iven product can be purchased at a wide range of prices. C. contractual agreements among individual firms are restricted and avoided. D. a few large, dominant sellers are constantly jostling for market share.
Business
1 answer:
iragen [17]2 years ago
7 0

Answer:

The answer is: A) the diffusion of economic power limits its potential abuse.

Explanation:

Ina market system, producers will be willing to offer what consumers are willing to pay. That means that consumers are "kings" if competition exists in a market. Consumers should be able to choose what product suits them best and satisfies their needs. A large number of suppliers guarantees more consumer satisfaction.

Problems start when competition starts to vanish and monopolies appear.

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