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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The price elasticity of demand for Robot Butlers includes the greatest absolute value at an exact price of: (i) $20,000. (ii) $16,000. (iii) $12,000. (iv) $8,000. (v) $4,000. Discover Q & A Leading Solution Library Avail More Than 1456905 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1941303 Asked 3,689 Active Tutors 1456905 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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