In perfect competition, the buyers are usually looking for
A) easy entry
B) familiar brands
C) higher-quality goods
D) volume discounts
E) the lowest price

Question

Quizplus · Accepted Answer

In perfect competition, numerous buyers and sellers exist, and products are homogeneous, leading buyers to seek the lowest price since they can easily substitute products from one seller with those from another without any loss in value or utility.

In Perfect Competition, the Buyers Are Usually Looking for