For a Competitive Market,which of the Following Statements Is Correct

question 413

Multiple Choice

For a competitive market,which of the following statements is correct?

• A) A seller can always increase her profit by raising the price of her product.
• B) If a seller charges more than the going price,buyers will go elsewhere to make their purchases.
• C) A seller often charges less than the going price to increase sales and profit.
• D) A single buyer can influence the price of the product,but only when purchasing from several sellers in a short period of time.

---

Definitions:

Acheulean Technology

A Stone Age technology characterized by distinctive oval and pear-shaped hand-axes, associated with early humans, particularly Homo erectus.

Genus Homo

The genus to which modern humans belong, characterized by higher mental faculties, upright posture, and bipedal locomotion.

Oldowan Tools

The earliest known stone tool industry, dating back to about 2.6 million years ago, associated with Homo habilis and used by early hominins for cutting, scraping, and processing animal and plant materials.

Homo Floresiensis

A species of small hominin that lived on the island of Flores, Indonesia, until about 50,000 years ago, known for its relatively small stature and brain size.