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Svetllana [295]
2 years ago
14

Suppose the market for plain white t-shirts is perfectly competitive and in long-run equilibrium. Now suppose the demand for pla

in white t-shirts increases. When the market for plain white t-shirts reaches a new long-run equilibrium, how will the market compare to the market before the increase in demand
Business
1 answer:
yan [13]2 years ago
4 0

In the new long-run equilibrium, there would be an increase in the number of suppliers of t-shirts.

<h3>What would happen when the demand for plan white t-shirts increase?</h3>

A perfect competition is when there are many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply.

When demand for t-shirts increase, there would be an excess of demand over supply. This would lead to a shortage. This would increase the price of t-shirts. In the long run, more suppliers would enter into the industry and this would increase supply of t-shirts. As a result, equilibrium would be restored.

To learn more about perfect competition, please check: brainly.com/question/17110476

#SPJ1

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In a learning organisation, what is vision?

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8 0
1 year ago
Smith Corporation has two service departments: Data Processing and Personnel. Data Processing provides more service than does Pe
nadezda [96]

Answer:

$474,819            

Explanation:

The computation of the amount of Data Processing costs is allocated to A is shown below:

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And, the Data Processing Cost is

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= 362,319

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3 years ago
The total quantity of output demanded at alternative price levels in a given time period, ceteris paribus, is the definition of
lora16 [44]
<span>The total quantity of output demanded at alternative price levels in a given time period, ceteris paribus, is the definition of: Aggregate demand

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5 0
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