Which of the following principles of a free enterprise system best explains why the businesses in an industry cannot maintain an artificially high price?(1 point)

Responses

property rights
property rights

profit
profit

open opportunity
open opportunity

producer sovereignty

1 answer

The principle that best explains why businesses in an industry cannot maintain an artificially high price is open opportunity.

In a free enterprise system, open opportunity means that anyone can enter the market and compete. If businesses try to keep prices artificially high, new competitors can enter the market offering lower prices, which forces those businesses to lower their prices to remain competitive. This competition helps ensure that prices reflect the true value of goods and services, rather than being artificially inflated.