In a competitive market, every consumer willing to pay the market price can buy a product and every producer willing to sell the

Question

kenny6666 [7]

3 years ago

13

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

Business

1 answer:

Gennadij [26K] · Answer 1 · 2022-04-13T01:34:55+03:00

Answer:

The correct answer is True.

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.