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3 years ago

Tom produces commemorative t-shirts in a competitive market. if tom decides to decrease his output, this will

2 answers:

6 0

In a competitive market, a large number of producers compete with each other to satisfy the needs of their consumers. In here, no one or group of producers can dictate the price. <span>They have only one major decision to make—and that is, what quantity to produce. Therefore, when Tom decided to produce commemorative t-shirts, and decrease his output, This decision did not increase his revenue, since did not lead to higher market price nor the competitors will decrease their output. </span><span> The answer is C. decrease his revenue, for price remains the same.</span>

nataly862011 [7]3 years ago

5 0

Answer would be C, Decrease his revenue, since his output has decreased and the price remains the same.

Tom produces commemorative t-shirts in a competitive market. If he decided to decrease his output, this will decrease his revenues since his output has decreases and the price remains the same.

When there is a decrease in the quantity of a product produced by the company, the revenues will also decrease because when more quantity is sold, more revenue is generated and vice versa, keeping the price at a constant number.

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