If a seller in a competitive market chooses to charge more than the market price,then

Question

Quizplus · Accepted Answer

If a seller chooses to charge more than the market price, buyers are likely to turn to other sellers offering the same product at a lower price. This would result in a decrease in demand for the product being sold by the seller in question, leading to lower profits or potentially even losses. Therefore, option D is the most valid choice.

If a Seller in a Competitive Market Chooses to Charge