In a perfectly competitive market, what determines the price of the product?
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A) |
Market supply and demand. | |
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B) |
The producers of the product. | |
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C) |
The members of the supply chain. | |
Individual firms in perfect competition have no influence over market price. They are price takers who must sell at the prevailing market price. If they set their price higher than the market, they will sell nothing. | 
发表于 2010-4-16 22:33
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