Answer:
Option (b) is correct.
Explanation:
In a market condition of pure competition, there are large number of buyers and sellers of the product. The sellers in this market condition are behaving like a price taker.
If a single firm wants to increase the price of the product then as a result the demand for their product is reduced or become zero.
There are some characterstics of the firms under pure competition market condition:
(i) They are selling homogeneous products.
(ii) Price taker firms
(iii) Large no. of buyers and sellers
The correct answer is personal income.
A country’s personal income is the amount of income received by all of the country’s people in a given time period.
let the customer drink it?
A couple of years: Is usually when a budget is usually constructed.
Answer:
switch away from growing soy beans and growing corn
Explanation:
if the price of corn increases,it would be an incentive for farmers to increase their production of corn so as to increase their profits.
