In a perfectly competitive market,all consumers ________.
A) may buy one or many unit of the good, without the price changing
B) bid the lowest price for the good they want to consume
C) tend to buy equal amounts of a good
D) have exactly the same tastes and preferences

Question

Quizplus · Accepted Answer

In a perfectly competitive market, the price of goods is determined by the market and remains constant regardless of the quantity purchased by an individual consumer. This means consumers may buy one or many units of the good without affecting the price. Choices B, C, and D do not accurately describe characteristics of a perfectly competitive market.

In a Perfectly Competitive Market,all Consumers ________