Sellers in a perfectly competitive market make special arrangements to deal with particular customers and stand to lose value if their relationship with those customers ends.

Question

Quizplus · Accepted Answer

In a perfectly competitive market, sellers are price takers and do not have the ability to make special arrangements with individual customers. They must treat all customers equally to maintain their competitiveness. Additionally, the loss of one customer does not have a significant impact on the seller's overall profitability in a perfectly competitive market.

Sellers in a Perfectly Competitive Market Make Special Arrangements to Deal