Business, 27.08.2019 04:30 mayasiegel5234

Aseller in a competitive market can sell all he wants at the going price, so he has little reason to charge less. will lose all his customers to other sellers if he raises his price. considers the market price to be a "take it or leave it" price. all of the above are correct.

Answers: 1

Show answers

Answers

Answer from: mooreadrian412

Option (d) is correct.

Explanation:

Correct option: All of the above are correct.

In a perfectly competitive market, there are large number of buyers and sellers. Price and demand of the commodities are determined by the market forces. All the firms in a competitive market are price taker.

Any single firm cannot influence the market price. If a single firm tries to increase their price by a small amount, will lose all of its product demand to other firms. This is because of the competition among the firms.

Answer from: janette32

All of the above are correct

In a competitive market, the demand and prices of goods and services are determined by the market forces. In a competitive market, many producers are competing with each other to produce the goods and services that the consumer needs.

Further Explanation

Everybody is involved in a competitive market; no single producer or consumer can dictate the market.

Some characteristics of a competitive market include:

There are many producers and buyers Each firm in a competitive market produces a similar product Buyers and consumers have no barrier in entering or exiting a competitive market No individual can control the market There is also a perfect knowledge of prices

Farming is a very good example of a competitive market because there are many farmers and no farmers can dictate the market. No farmer can also influence the market price.

In a competitive market, farmers have no choice on price, they can only accept the price condition of the market. In other words, they can’t determine the price of their crop; they have to rely on the market forces.

There is always huge competition in a competitive market because the products are similar and no firm can determine its product price and they try to increase the price of their product, they will lose their customers.

LEARN MORE:

A seller in a competitive market For a competitive market

KEYWORDS:

competitive marketcustomersgoods and

Answer from: Quest

previous business sales - c.

Answer from: Quest

idk

explanation:

bc why nah

Another question on Business

Business, 22.06.2019 08:40

Which of the following is not a characteristic of enterprise applications that cause challenges in implementation? a. they introduce "switching costs," making the firm dependent on the vendor. b. they cause integration difficulties as every vendor uses different data and processes. c. they are complex and time consuming to implement. d. they support "best practices" for each business process and function. e. they require sweeping changes to business processes to work with the software.

Answers: 1

Answer

Business, 22.06.2019 10:20

Asmartphone manufacturing company uses social media to achieve different business objectives. match each social media activity of the company to the objective it the company achieve.

Answers: 1

Answer

Business, 22.06.2019 11:30

(select all that apply) examples of email use that could be considered unethical include denying receiving an e-mail requesting that you work late forwarding a chain letter asking for donations to a good cause sending a quick message to your friend about last weekend sending your boss the monthly sales figures in an attachment setting up a meeting with your co-worker sharing a funny joke with other employees

Answers: 2

Answer

Business, 22.06.2019 13:30

If the economy were in the contracting phase of the business cycle, how might that affect your ability to find work?

Answers: 2

Answer

You know the right answer?

Aseller in a competitive market can sell all he wants at the going price, so he has little reason to...

Questions