market competition pushed a price down toward its market-clearing level. Which of the following BEST describes they type of competition that would cause lower prices

1) Competition between buyers and sellers
2) Competition among sellers
3) Competition among buyers
4) Competition between sellers and government

What does your text say?

The type of competition that would cause lower prices is competition among sellers. When there is a high number of sellers offering similar goods or services, they compete with each other to attract customers. This competition drives prices down as sellers try to offer better prices or deals to gain a competitive edge. As a result, market competition among sellers exerts downward pressure on prices, ultimately pushing them towards their market-clearing level.

To find this answer, you can use basic economic knowledge about how market competition affects prices. Understanding the concept of supply and demand is important here. When there are many sellers competing in a market, the supply of goods or services increases, creating a situation where sellers must compete to sell their products. This competition can lead to lower prices as sellers strive to attract buyers. By eliminating options that do not involve sellers, such as competition between buyers and sellers or competition between sellers and the government, you can determine that competition among sellers is the best choice.

shut up ms. sue