Answer: Perfect competition
Explanation: In a perfect competition market structure the number of sellers in the market is very large with each individual seller operating at a very small level. Due to small operation, no individual seller is capable enough to dictate or affect the price in the market.
The sellers in perfect competition are bound to take prices determined by market forces of demand and supply.
In most case, the average amount of time between price changes for gasoline is <u>two to three weeks</u>.
<h3>What is a price changes?</h3>
Most time, a price changes often come about because of changes in the conditions of demand and supply. A gasoline prices tend to always increase when the available supply of gasoline decreases relative to real or expected gasoline demand or consumption.
Some factors that change the price of gasoline are:
- Crude oil prices
- Refining costs
- Taxes
- Distribution
- marketing costs.
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Answer:
Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them, as defined by the Advertising Association of the UK.