Ask Question
Yesterday, 21:09

In a competitive market, no single producer can influence the market price because many other sellers are offering a product that is essentially identical. consumers have more influence over the market price than producers do. government intervention prevents firms from influencing price producers agree not to change the price.

+2
Answers (1)
  1. Yesterday, 22:54
    0
    Choice (a) is the most correct. In purely competitive markets, all the firms entering the marketplace are selling basically the same items, with minor differences as a way of differentiation. However, these differences are usually not major. This ensures that most of the products sold in a specific product market are interchangeable.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “In a competitive market, no single producer can influence the market price because many other sellers are offering a product that is ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers