A competitive market with flexible prices and many buyers and sellers will:

Question

Quizplus · Accepted Answer

A competitive market with flexible prices and many buyers and sellers will reach an equilibrium where the market clears. This means that the quantity demanded by buyers will equal the quantity supplied by sellers, resulting in a market price at which all goods are sold. In other words, the market will find its own natural equilibrium without the need for a government price intervention.

A Competitive Market with Flexible Prices and Many Buyers and Sellers