A competitive market is one in which there

Question

Accepted Answer

are so many buyers and so many sellers that each has a negligible impact on the price of the product.

Answer

is only one seller, but there are many buyers.

Answer

are many sellers, and each seller has the ability to set the price of his product.

Answer

are many sellers, and they compete with one another in such a way that some sellers are always being forced out of the market.

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