Competition means that:
A. sellers can manipulate market price by causing product scarcities.
B. there are independently-acting buyers and sellers in each market.
C. a product can be purchased at a number of different prices.
D. there is more than one seller in a market.
Answer:B
Competition means that:
A. sellers can manipulate market price by causing product scarcities. B. there are independently-acting buyers and sellers in each market. C. a product can be purchased at a number of different prices. D. there is more than one seller in a market.