Rocle692
Answered

Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Join our Q&A platform to get precise answers from experts in diverse fields and enhance your understanding. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

Why do purely competitive markets tend to benefit consumers over producers? Companies control quality and supply. Companies work together to set prices favorable to consumers. Competition is driven by factors other than price. Consumers control price through demand.

Sagot :

In general, purely competitive markets tend to benefit consumers over producers because "Consumers control price through demand". Although perfect competition is practically impossible.

Answer;

-Consumers control price through demand.

Purely competitive markets tend to benefit consumers over producers because consumers control price through demand.

Explanation;

-In a purely competitive market, there are large numbers of firms producing a standardized product. The market prices are determined by consumer demand; suppliers have no influence over the market price, and thus, the suppliers are often referred to as price takers.

Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.