Suppose the market for cement is such that the government does not int

Suppose the market for cement is such that the government does not interfere in price determination but plays an important role in the provision of property rights.

While there are a large number of buyers and sellers, everyone conducts transactions at a common market price. Which of the following statements is true about the structure of the cement market?
A) The cement market is government regulated.
B) All participants in the cement market are price makers.
C) All transactions in the cement market are likely to be involuntary.
D) The cement market is free and competitive.

ANSWER

D