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Bad White [126]
2 years ago
15

In the long run, assuming that market demand stays the same, if firms in a competitive industry expand, then the product price w

ill tend to fall as a result.
Business
1 answer:
navik [9.2K]2 years ago
3 0

Answer:

True

Explanation:

In Microeconomics, there is a correlation between offer and demand. If the market demand stays the same, in a competitive industry expanding its demand other suppliers will come into the game.

So, in the long run. Prices will end up to fall as a result, until it stabilizes on average.

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A generic brand of pre-packaged foods would best be marketed to which target market?
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Which action can hurt your credit score? I. Paying your phone bill late. II. Taking the bus to work. III. Maxing out several cre
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The consumption function shows the relationship between consumption spending and _______. The slope of the consumption function
Stella [2.4K]

Answer:

Consumption Function : Relationship between Consumption Spending & Income

Consumption Function Slope = Marginal Propensity Curve  (MPC)

Change in Consumption = Change in Income X MPC

Explanation:

Consumption Function is the curve representing relationship between Consumption spending and Income.

C = a + bY ; where :- C = Consumption , Y = Income ,  a = Autonomous Consumption i.e consumption at 0 level of income , b = MPC i.e additional consumption consumed from additional income = ΔC / ΔY

b = MPC i.e change in C due to additional change in Y = ΔC / ΔY is the slope of Consumption Function

MPC = ΔC / ΔY .

So, change in consumption i.e ΔC = MPC X ΔY  

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What was the opening price of dow jones industrial average on jun 01, 2017 in the format of xxxxx.xx?
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21080.28.

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1 year ago
Learning management systems are also known as knowledge work systems true or false
omeli [17]

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