Implication of buyers in market
Describe the implication of big number of buyers in the perfectly competetive market.
Expert
The implication is that no single buyer is in a place to affect the market price on its own since an individual buyer?s purchase forms a negligible proportion of the total purchase of good in the market.
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When a $5 price hike raises the number of tanks of dehydrated water supplied into this market from point a to point b, there elasticity of supply is: (w) 4.5. (x) 3.0. (y) 1.5. (z) 0.5. Discover Q & A Leading Solution Library Avail More Than 1445237 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1938290 Asked 3,689 Active Tutors 1445237 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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