In a perfectly competitive market,an individual seller sells only a negligible fraction of the total amount of the good produced.This is why ________.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, there are numerous buyers and sellers, and each participant sells or buys only a small fraction of the total amount made or supplied. Therefore, an individual seller's pricing or production decisions are insignificant in comparison to the total market output, thus not influencing the market price. Consequently, the answer is C, his individual choices do not affect the market price.

In a Perfectly Competitive Market,an Individual Seller Sells Only a Negligible