Which of the following is NOT an element of a seller's decision-making process in a perfectly competitive market?

Question

Quizplus · Accepted Answer

The number of buyers in the market is not an element of a seller's decision-making process in a perfectly competitive market since the seller is assumed to be a price taker and has no control over the number of buyers. The other options (A, B, and C) are all factors that a seller must consider in their decision-making process, such as the relationship between inputs and output, the cost of inputs, and the price of output.

Which of the Following Is NOT an Element of a Seller's