Practices that reduce competition without actual documented agreements between firms to raise price are commonly referred to as <u>restrictive practices.</u>
<h2>
How does competition affect the demand curve of a firm?</h2>
When competing firms establish prices in response to the prices set by their competitors, the demand curve that each firm faces becomes ambiguous. Increased government wheat price subsidies will not make wheat growing more lucrative.
<h2>
What has the regulator allowed firms to do to set prices?</h2>
The regulator has allowed for an adjustment for the firm's usual rate of profit, and then established the price that customers can be paid correspondingly.
<h2>What are Restrictive practices?</h2>
Restricted interventions are another term for restrictive practice. This is when someone is forced to do something they don't want to do or is prevented from doing something they want to do.
This can be accomplished by employing:
- seclusion.
- environmental constraint medication (sometimes referred to as chemical restraint).
- mechanical restraint psychological restraint.
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