Answer:
In a competitive market, no single consumer or producer has the power to dictate the market.
In a competitive market, buyers and sellers are price takers. This means they have no market power and take the market price as a given. So, they can sell/buy as much quantity as they want at that price.
Step-by-step explanation:
A competitive market is a structure in which no single consumer or producer has the power to influence the market. Its response to supply and demand fluctuates with the supply curve, a representation of a product's quantity. Since a competitive market means the producer must be willing to sell a product according to what the market pays, supply curves adjust to keep the producer's costs relative to its sales.
Competitive markets, and the concept of perfect competition, work to factor the buyer and seller equally and form strategies based on the market's current supply and demand.