Answer to Question #227011 in Microeconomics for Yaya

Question

• In a perfectly competitive market, A. there can be few or many buyers and sellers.
•  B. government intervention is needed to ensure that prices are fair for consumers.
•  C. the price can be driven upward by suppliers holding back on goods and services.
•  D. each participant is too small to affect the market price.

Answer 1

D. each participant is too small to affect the market price.