In a competitive price-taker market, the actions of any single buyer or seller will
A) have a negligible impact on the market price.
B) have little effect on overall production but will ultimately change final product price.
C) cause a noticeable change in overall production and a change in final product price.
D) adversely affect the profitability of more than one firm in the market.

Question

Quizplus · Accepted Answer

In a competitive price-taker market, individual buyers or sellers cannot influence the market price due to the large number of participants and the homogeneous nature of the product.

In a Competitive Price-Taker Market, the Actions of Any Single