Answer: Firms will exit the market, causing price to rise until losses are eliminated
Explanation:
When there is a decrease in demand in a Perfectly Competitive Market, firms will have to start producing at a lower Quantity to manage their Marginal cost. This leads to Economic losses on their part in the short run.
In the long run however, should the situation remain the same, the new price would be less than their Average Cost which would deepen Economic losses. Firms would respond by exiting the market in the long run.
As the firms exit, the supply curve shifts left as supply drops. This drop in supply leads to a price rise. The exits will continue until enough firms leave that the market's remaining firms will stop suffering economic losses.
Answer: True
Explanation:
The Woodland Indians which included the Iroquois practiced a form of war known as MOURNING WARS where they invaded or went to battle, not to claim land like the Europeans but rather to avenge the death of a loved one.
Captured combatants were regularly assimilated to replace the dead loved ones and no lands were claimed.
This changed after they met the Europeans and they gradually began to seize land and establish trade centres.
Answer:
increased
Explanation:
The correct answer is that the equilibrium wage increased as the equilibrium quantity of labor increased.
The lack of opportunity ti be one's boss
