Solved

Both Buyers and Sellers Are Price Takers in a Perfectly

Question 3

Multiple Choice
Both buyers and sellers are price takers in a perfectly competitive market because
A)the price is determined by government intervention and dictated to buyers and sellers.
B)each buyer and seller knows it is illegal to conspire to affect price.
C)both buyers and sellers in a perfectly competitive market are concerned for the welfare of others.
D)each buyer and seller is too small relative to others to independently affect the market price.

Both buyers and sellers are price takers in a perfectly competitive market because


A) the price is determined by government intervention and dictated to buyers and sellers.
B) each buyer and seller knows it is illegal to conspire to affect price.
C) both buyers and sellers in a perfectly competitive market are concerned for the welfare of others.
D) each buyer and seller is too small relative to others to independently affect the market price.

Correct Answer:

verifed

Verified

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents