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Question: If a seller in a competitive market chooses to charge more than the going price, then A other sellers would also raise their prices. ... the owners of the raw materials used in production would raise the prices for the raw materials.
Or
If a seller in a competitive market chooses to charge more than the going price, then
A. the sellers' profits must increase.
B. other sellers would also raise their prices.
C. buyers will make purchases from other sellers.
D. the owners of the raw materials used in production would raise the prices for the raw materials.
Answer will be C. buyers will make purchases from other sellers.
Or
If a seller in a competitive market chooses to charge more than the going price, then
A. the sellers' profits must increase.
B. other sellers would also raise their prices.
C. buyers will make purchases from other sellers.
D. the owners of the raw materials used in production would raise the prices for the raw materials.
Answer will be C. buyers will make purchases from other sellers.
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