Answer to Question #226772 in Economics for Pabi

Question

In a perfectly competitive market,

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

B. there can be few or many buyers and sellers.

C. the price can be driven upward by suppliers holding back on goods and services.

D. government intervention is needed to ensure that prices are fair for consumers.

Answer 1

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