Answer to Question #227717 in Microeconomics for Lebogang

Question

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

Answer 1

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