A competitive market is one in which there
A) is only one seller,but there are many buyers.
B) are many sellers,and each seller has the ability to set the price of his product.
C) are many sellers,and they compete with one another in such a way that some sellers are always being forced out of the market.
D) are so many buyers and so many sellers that each has a negligible impact on the price of the product.
Correct Answer:
Verified
Q14: For a market for a good or
Q15: The supply of a good or service
Q16: Which of the following is an example
Q17: Assume Leo buys coffee beans in a
Q18: Most markets in the economy are
A)markets in
Q20: Which of the following statements is correct?
A)Buyers
Q21: Which of the following is not a
Q22: In competitive markets,which of the following is
Q23: In competitive markets,
A)firms produce identical products.
B)buyers can
Q24: In competitive markets,buyers
A)are price takers,but sellers are
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