In a competitive market, suppliers have little reason to charge different prices because:
A) they have little reason to charge a lower price
B) if they a charge a higher price, buyers will purchase from someone else
C) only B is true
D) both A and B are true
Correct Answer:
Verified
Q88: The law of demand states that:
A)price and
Q89: Which one of the following is not
Q90: Suppose that a decrease in the price
Q91: A demand curve is:
A)the upward-sloping line relating
Q92: Which of the following would be an
Q94: If good Z is 'inferior', then an
Q95: In a competitive market, buyers cannot influence
Q96: Which of the following would be an
Q97: Most markets in an economy are:
A)very inefficient
B)uncompetitive
Q98: Suppose Lee likes chicken curry a little
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents