Competitive market equilibrium is a market equilibrium with many buyers and sellers.

Name: Competitive market equilibrium is a market equilibrium with many buyers and sellers.
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Question

Quizplus · Accepted Answer

Competitive market equilibrium is characterized by a large number of buyers and sellers, none of whom can influence the market price on their own. In this type of equilibrium, the market price and quantity are determined by the intersection of the demand and supply curves. Therefore, option A is correct.

Competitive Market Equilibrium Is a Market Equilibrium with Many Buyers