Why Does Market Price Prevail in a Perfectly Competitive Market

question 15

Multiple Choice

Why does market price prevail in a perfectly competitive market?

• A) because there are few sellers
• B) because the market is unregulated
• C) because there are distinctive products
• D) because no one has market power

---

Definitions:

Triangular Theory

Often referred to in the context of love, this theory posits that love comprises three components: intimacy, passion, and commitment.

Liking

A positive feeling toward something or someone, often based on appreciation or enjoyment.

Intimacy

A close, familiar, and usually affectionate or loving personal relationship with another person or group.

Marriage Gradient

A pattern observed in mate selection, where typically men marry women who are slightly younger, shorter, and lower in status, while women marry men who are older, taller, and higher in status.