Because there are many buyers and sellers in a perfectly competitive market, no one seller can influence the market price.

Name: Because there are many buyers and sellers in a perfectly competitive market, no one seller can influence the market price.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

In a perfectly competitive market, the presence of many buyers and sellers ensures that no single seller has the power to influence the price of goods or services, as the market price is determined by the overall supply and demand.

Because There Are Many Buyers and Sellers in a Perfectly