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In this type of market, businesses must sell at whatever is the going market price:
Monopolistic Competition
Perfect Competition
Monopoly
oligopoly

Sagot :

ogorwyne

The perfect competition market is a market where the businesses must have to sell at the going market price.

In the perfect market, the consumers and the sellers have to accept the market price that exists as given.

No seller of a commodity or buyer would have the power to make changes on this price. The traders or the buyers have to carry out their business at this price.

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anthougo

In a B. Perfect Competition, businesses sell at the going market price.

What is a perfect competition?

Perfect competition is a type of market characterized by:

  • Many sellers and buyers
  • Perfect information
  • Price-taking
  • Resource mobility

Perfect competition is not like a monopolistic competition, monopoly, or oligopoly where prices are fixed by sellers of goods and services.

Thus, in a B. Perfect Competition, businesses sell at the going market price.

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