2
QuizMultiple Choice

Market Structures and Competition

Question 2 • SEPHS - SOC240 - Economics (Fall)

If consumer sovereignty is considered greatest in a system of pure competition, why is sovereignty still limited?

Answer
A
Consumers still rely on producers’ set prices.
B
Few products are actually sold on the basis of pure competition.
C
Choices are driven by price when goods are identical.
D
Limited price variations restrict actual choice.
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If consumer sovereignty is considered greatest…