In a competitive market,
A)Buyers don't have market power but sellers do.
B)Sellers don't have market power but buyers do.
C)Neither buyers nor sellers have market power.
D)Buyers and sellers both have market power.

Question

Quizplus · Accepted Answer

In a competitive market, no individual buyer or seller has the power to influence market prices. Rather, prices are determined by the forces of supply and demand. Therefore, neither buyers nor sellers have market power.

In a Competitive Market