Ask Question
19 December, 00:55

Both buyers and sellers are price takers in a perfectly competitive market because

+1
Answers (1)
  1. 19 December, 01:38
    0
    The price is determined by government intervention and dictated to buyers anti sellers each buyer and teller knows it it illegal to conspire to affect price.

    Explanation:

    A perfectly competitive firm is a price taker, which implies that it must acknowledge the equilibrium price at which it sells products. In the event that a perfectly competitive firm attempts to charge even a modest sum more than the market price, it will be not able make any sales.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Both buyers and sellers are price takers in a perfectly competitive market because ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers