Question on: JAMB Economics - 2017
Completely competitive market exist when each member is a —
A
price maker
B
price taker
C
price seeker
D
a and b
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Correct Option: B
A perfect market may be defined as one in which buyers or sellers cannot influence the price of goods and services. That is, the buyers or sellers are price taker since there exist a common price for commodities throughout the market.
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