Yes, this is correct.
Crucially, this is only the case if everything else stays equal: so if the quality of the product stays the same and if the income of the buyers doesn't decrease.
Then with a lower prize, more items will be purchased - and less if the prize increases.
As has been the case historically, the most densely populated parts of the United States are east of the Mississippi River. Rings of decreasing population density radiate out from the major urban centers of New York, Philadelphia, and Washington along the East Coast.
By having total power or taking power by force
In markets where competition is very intense, companies are not able to keep on competing in prices forever, as at some point their cost structures prevents sucessive price lowerings. Therefore, companies are forced to use alternative strategies to defeat their competitors and to attract larger shares of consumers to demand their products.
<u>Companies need to become more efficient in production and to introduce innovations</u>. An example of an efficiency increase is to produce at the same cost, maintaining the same market price but delivering a higher-quality product, that includes, for instance, a better packaging. This new feature has been achieved through the implementation of a new tecnique in the production process (ex: new materials for the packaging) together with an innovative and sucessful marketing campaign.
