Interaction of supply and demand

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Reference no: EM13302959

Prices for commodities such as frozen orange juice or gold bullion are set by the interaction of supply and demand, whereas those for goods and services are set by the seller.

Which statement is true?

A. Sellers in commodity markets must be concerned about ways to increase marginal revenue.

B. Sellers in commodity markets must be concerned about cross elasticity when setting the price.

C. Sellers of commodities are price takers.

D. Sellers in noncommodity markets always make a profit.

Reference no: EM13302959

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