Answer:
The correct answer is: when buyers and sellers have influence on price.
Explanation:
The imperfect market situations exist when there are few buyers or sellers such that they are able to influence the market. For instance, in a perfectly competitive market, there is a large number of buyers and sellers. So, any single buyer or seller is not able to influence the market. The price and output are determined by the market forces.
In an imperfect market such as monopoly or oligopoly, few firms exist so they are able to fix output and price on their own.
A situation that would most likely cause demand for milk to rise in France is French consumers expect the price of milk to increase in the future.
<h3>What causes an increase in the demand for a product?</h3>
The demand for a product is affected by:
- future expectations
- change in the price of other goods
- Change in the income of consumers
When it is expected that the price of a product would increase in the future. Consumers would want to buy the product now when it is cheaper so as to save money.
For more information about the change in demand, please check: brainly.com/question/25871620
Answer:
The correct answer is (D) all, maximizes her total utility.
Explanation:
Consumer's equilibrium is a defined as a situation in which an individual uses his or her money to buy goods in a manner in which the person obtains the highest satisfaction and has no need for a change in the level of consumption on account of the price of the product.
Consumer equilibrum enables an individual to obtain complete satisfaction from his or her money. Consumer equilibrum is found by comparing the ratio of the marginal utility to the price of a commodity.
