Question

In: Economics

In a competitive market, buyers and sellers Group of answer choices have the power to set...

In a competitive market, buyers and sellers

Group of answer choices

have the power to set prices

are not subject to a demand curve or a supply curve

are buying and selling goods that are identical

lack perfect information

Solutions

Expert Solution

In a competitive market, buyers and sellers are subjected to demand and supply curves and price is set by market hence they do not have the power to set prices. Buyers and sellers all have perfect information of the market prices.

Hence first second and last option are not correct

Buyers and seller are buying and selling identical goods is right answer

Rahul Sunny answered 2 years ago
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