For a competitive market,which of the following statements is correct?

Question

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In a competitive market, sellers cannot increase their profit by raising the price of their product because there are many other sellers offering similar products at a lower price. If a seller charges more than the going price, buyers will go elsewhere to make their purchases. Therefore, sellers often charge less than the going price to increase sales and profit. Additionally, a single buyer cannot influence the price of the product in a competitive market because there are many other buyers and sellers in the market, and the price is determined by the forces of supply and demand.

For a Competitive Market,which of the Following Statements Is Correct