When the price of a commodity is $11, where 1250 units are being bought and sold in a perfectly competitive market, the market price of the commodity will increase from its original price if the market is monopolized.
<h3>What is a perfectly competitive market?</h3>
In a market where there are less to zero restrictions for entry and exit of buyers and sellers in the market dealing in similar commodities, then such a market is known as a perfectly competitive market.
There is no pricing power in the hands of the buyers and sellers in the market, as there is no minimum or maximum limit on the number of sellers in the market, so the supply is not restricted in such a market.
Hence, it can be concluded that market prices are stable in a perfectly competitive market, and it generally increases in a monopolistic market.
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If the Administrator summarily suspends an agent's registration, the agent (who is not too happy about this!) can request a hearing in front of the Administrator.
A person chosen by the court to manage the estate of someone who passed away without a will is known as an administrator in law. An official appointed under an Administration Order in regard to a business that is having financial difficulties as an alternative to liquidation, as defined by British bankruptcy law.
An administrator is essential to the efficient operation of a firm and provides office support to either an individual or a team. They might be in charge of answering phones, welcoming and guiding guests, word processing, making spreadsheets and presentations, and filing.
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Answer:
The answer is D. The change in quantity demanded of a good that results from a change in price, making the good more or less expensive relative to other goods, holding constant the effect of the price change on consumer purchasing power
Explanation:
Substitution effect is a concept in which, as the price of a good or service increases, less of the good or service is substituted for other less expensive.
For example, if the price of Pepsi were to rise, the substitution effect would cause the consumer to buy less of it and substitute more coca-cola for now relatively more expensive Pepsi.
Option A. is wrong because we are talking about the quantity demanded and not just demand. (Please take note).
They usually rise because more people are evacuating the area and a lot of people need gas so gas companies take advantage of this and raise their gas price so they can make a profit off the hurricane.
I believe it’s false advertising.
It’s like bait, they get you in the store only to tell you they don’t have the item, then proceed to sell you something much more expensive.
