In a competitive price-taker market,
A) many other sellers are offering a product that is essentially identical.
B) consumers have more influence over the market price than producers do.
C) government intervention prevents firms from influencing price.
D) producers agree not to change the price.

Question

Quizplus · Accepted Answer

In a competitive price-taker market, many sellers offer identical products, leading to no single seller being able to influence the market price.

In a Competitive Price-Taker Market