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In a competitive market, the action of any single buyer or seller in the market will:

a. discourage entry by competitors.

b. influence the profits of other firms in the market.

c. have a negligible impact on the market price.

d. Both a and b are correct.

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Sonia Dhawan
Sonia DhawanLv10
4 Oct 2020

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Related questions

In a competitive market, the actions of any single buyer or seller will:

a.   have a negligible impact on the market price.

b.   have little effect on overall production but will ultimately change the final product price.

c.   cause a noticeable change in overall production and a change in the final product price.

d.   adversely affect the profitability of more than one firm in the market

For a market to be competitive:
 
A) each buyer and seller is small, relative to the world market; no single decision-maker has any influence over the market price.
B) sellers must produce goods and services that are different from their competitors.
C) sellers should have substantial pricing power.
D) all you need are many buyers and many sellers
E) the price must be a fair price

10) A market where no single buyer or seller can influence the price is A) a competitive market. B) a buyer's market. C) a seller's market. D) an input market. E) an output market.

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