A very large number of small sellers who sell identical products imply
A) a multitude of vastly different selling prices.
B) a downward-sloping demand for each seller's product.
C) the inability of one seller to influence price.
D) chaos in the market.

Question

Quizplus · Accepted Answer

When there are a large number of small sellers offering identical products, no single seller can influence the market price. Each seller is a price taker, accepting the market price set by the supply and demand forces. Therefore, option C is correct, and options A, B, and D are incorrect.

A Very Large Number of Small Sellers Who Sell Identical