question archive True or False 1)In a competitive market, buyers and sellers have significant market power
True or False 1)In a competitive market, buyers and sellers have significant market power
Subject:MarketingPrice:2.88 Bought3
True or False
1)In a competitive market, buyers and sellers have significant market power.
2. If the price charged is less than the equilibrium price, a shortage will occur.
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For Item 1 In a competitive market, buyers have no significant market power. Item 1 statement is False.
For Item 2 In a market equilibrium, once the price is set at less than the equilibrium price a shortage will be created. Item 2 statement is True.
