In the short run, the individual competitive firm's supply curve is that segment of the: "marginal cost curve lying above the average variable cost curve."
<h3>
What is the short run supply curve?</h3>
The short run supply curve of a business is the section of its marginal cost curve that is higher than its average variable cost curve.
According to the law of supply, when the market price rises, the company will supply more of its product.
A perfectly competitive business maximizes profit by generating the amount of production that equals the product's price and marginal cost.
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Capital is a way of having land and labor to be involved for
production. In the given scenario above, the catapult and rock would be a
capital since it is needed to be made by people in order to gain something or
it is used for production.
The answer is diversification. This is a corporate methodology to go into another market or industry in which the business doesn't at present work, while additionally making another item for that new market. This is the most unsafe area of the Ansoff Matrix, as the business has no involvement in the new market and does not know whether the item will be fruitful.
<u>Answer:</u>
<em>An increase in quantity supplied and quantity demanded.</em>
<u>Explanation:</u>
If population increases in a city with <em>effective rent controls</em> (and nothing else changes) in the market for rental housing there will be an increase in <em>quantity supplied and quantity demanded. </em>
As with the <em>rising population the demand for rental housing</em> increase and with the rent control rent remains same, but the supply of rental housing units increases.Therefore, there will be an increase in the <em>quantity supplied and demanded.</em>