Question

what happens if a seller in a perfectly competitive market tries to charge a price above the market price?
the market price will rise to match their price.
buyers will continue to purchase from them due to loyalty.
buyers will purchase from other sellers charging the market price.
the seller will create a monopoly.

Explanation:

In a perfectly competitive market, products are homogeneous, all sellers are price takers, and buyers have full information. A seller charging above the market price loses all customers, as buyers can buy identical goods at the lower market price from other sellers. Other options are incorrect: the market price is set by supply and demand, so one seller can't raise it; there's no buyer loyalty for identical goods; a single seller can't create a monopoly in this market structure.

Answer:

Buyers will purchase from other sellers charging the market price.