if consumer sovereignty is considered greatest in a system of pure competition, why is sovereignty still…

if consumer sovereignty is considered greatest in a system of pure competition, why is sovereignty still limited? consumers still rely on producers’ set prices. few products are actually sold on the basis of pure competition. choices are driven by price when goods are identical. limited price variations restrict actual choice.

if consumer sovereignty is considered greatest in a system of pure competition, why is sovereignty still limited? consumers still rely on producers’ set prices. few products are actually sold on the basis of pure competition. choices are driven by price when goods are identical. limited price variations restrict actual choice.

Answer

Brief Explanations:

In pure - competition with identical goods, consumer choices are mainly driven by price. Since goods are the same, consumers have to base their decisions on price differences. This limits their sovereignty as they are restricted to price - based choices rather than other product - specific features. Also, in reality, few products are sold under pure competition.

Answer:

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.