Ask Question
30 August, 22:00

Both individual buyers and sellers in perfect competition a. can influence the market price by joining with a few of their competitorsb. have to take the market price as given (price-taker) c. can influence the market price by their own individual actionsd. have the market price dictated to them by government

+5
Answers (1)
  1. 30 August, 22:23
    0
    Answer: Statement B

    Explanation: As per the subject matter of economics, a perfect competition market structure is the one in which there are large number of buyers and sellers, operating at a small level individually, example = wheat traders

    Due to this large number of participants the buyers and sellers cannot take make any price changes individually rather the price in such structures is determined by the market forces of supply and demand.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Both individual buyers and sellers in perfect competition a. can influence the market price by joining with a few of their competitorsb. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers