Answer:
A negative shock to oil prices will mean that now production becomes cheaper. This will cause the aggregate supply curve to shift rightwards and cause prices to fall and the output level to increase. The fall in prices will be short term however as over time the prices will adjust upwards to the point A which is the original market price.
Answer:
Price competition in a monopolistically competitive market
Explanation:
The Monopolistic rivalry is an industry state with several firms that are closely linked to each other but offer distinct goods. Therefore, this sector has unlimited entry and exit
Here the company offers the same service but there are totally different in terms of design, service, quality, etc
Hence, the correct option is c
Answer:True
Explanation:There are many form a quick editing hoped this helped ;) ... In a spreadsheet, there are many features that help you edit quickly.
Answer:
What are the answers?
Explanation:
There is no picture. Maybe remake this question with a picture with the answers shown.
Answer:
D. Market supply and market demand determine the price and quantity bought and sold in the market.
Explanation:
In perfectly competitive market, equilibrium price and quantity is determined at the point where the aggregate supply curve and aggregate demand curve intersect.
If either supply or demand changes, the supply/demand curve will shift to intersect the demand/supply curve at a new equilibrium point.
In other words, although both suppliers and buyers are price-takers they both influence price and quantity bought and sold,<em> at the aggregate level</em>.
