In a perfectly competitive market no individual producer or consumer can change the market price.

Name: In a perfectly competitive market no individual producer or consumer can change the market price.
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, there are many buyers and sellers, and no single buyer or seller can influence the market price because the market determines the price based on overall supply and demand. Each participant is a "price taker."

In a Perfectly Competitive Market No Individual Producer or Consumer