Question

What is a competitive​ market?

a. a market in which a good is bought for a lower price than that for which it can be sold
b. a market in which a good can be bought and sold at the same price
c. a market in which goods have a different ask price and bid price
d. a market in which a good is sold at a lower price than that for which it can be bought?

Answer 1

I would say a.
Because if it's the case, profit can be made in this market and everyone is gonna try to make profit on this market