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In a Competitive Market, Why Does Each Seller Have Limited

Question 150

Multiple Choice

In a competitive market, why does each seller have limited control over the price of his product?


A) because other sellers are offering similar products
B) because in competitive markets, buyers have more influence over price than sellers
C) because the products sold in competitive markets are generally in abundant supply
D) because sellers in competitive markets prefer to meet and set a price that each will profit from

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