Which of the following best explains why you cannot use the price of rolled oats at a local supermarket as the competitive market value of rolled oats?
A)You can buy the oats at the price posted by the store, but the store will not buy oats from you for the same price.
B)The posted prices of oats can vary widely between grocery stores, even within the same local area.
C)Grocery stores typically sell oats in different packaging, which results in different prices within the same store.
D)Grocery stores mark up the prices of their oats to make a profit.

Question

Quizplus · Accepted Answer

The price at a local supermarket is only the price that consumers pay to purchase oats, not the price that suppliers receive for selling their oats.

Which of the Following Best Explains Why You Cannot Use