Which of the following statements correctly describes a perfectly comp
Which of the following statements correctly describes a perfectly competitive market?
A) In a perfectly competitive market, individual sellers and buyers can influence the market price.
B) All participants in a perfectly competitive market are price takers.
C) Haggling and bargaining is commonly observed in a perfectly competitive market.
D) Buyers in a perfectly competitive market pay different prices according to their individual demand.
ANSWER
B
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