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  • 15-08-2019
  • Business
contestada

__________ is the market situation in which there are many sellers in a market and no seller is large enough to dictate the price of a product.

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Nyctalus
Nyctalus Nyctalus
  • 20-08-2019

Answer: Perfect competition

Explanation: In a perfect competition market structure the number of sellers in the market is very large with each individual seller operating at a very small level. Due to small operation, no individual seller is capable enough to dictate or affect the price in the market.

The sellers in perfect competition are bound to take prices determined by market forces of demand and supply.

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