Question: One question that economics students often ask is, In a market with a lot of buyers and sellers, who sets the price of the good?

One question that economics students often ask is, “In a market with a lot of buyers and sellers, who sets the price of the good?” There’re two possible correct answers to this question: “Everyone” and “No one.” Choose one of the two as your answer, and explain in one or two sentences why you are correct.

Step by Step Solution

3.44 Rating (147 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Everyone In a market with many suppliers and demanders each persons actions push the ... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Document Format (1 attachment)

Word file Icon

651-B-E-P-T (424).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!