Answer: decrease
Explanation:
Demand is the amount of product or service that a economic entity wants to buy at a certain price at a particular time period.
When the world price of steel falls substantially, the demand for labor among steel-producing firms in Pennsylvania will reduce. This is because as price reduces, producers will want to supply less steel thereby demand for labor will reduce.
Answer:
I think Miguel should chose "b"
Explanation:
Reason is because he saving up to buy a car and probably won't be saving after he buys it
Due to its ease of accommodating an increase in production, the representative firm in monopolistic competition typically has excess capacity over time.
<h3>What will happen if a monopolistic, rival business raises its price?</h3>
However, customers have the option to purchase a comparable product from another company if a monopolistic rival increases its price. When a dominant rival raises prices, it will not lose as many clients as a business operating in perfect competition, but it will lose more clients than a monopoly.
<h3>Why does monopolistic competition have excess capacity?</h3>
Natural monopolies or monopolistic competition both have excess capacity as a feature. It could take place as a result of businesses having to make lumpy or indivisible investments to boost capacity as demand rises.
Learn more about monopolistic competition: brainly.com/question/28189773
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I think that a good phrase to fill in the blank space is "demand curve" or the "law of deman" - the demand curve portrays that if the prize is low, more goods will be bought than if the prize is higher - then people would want to buy less.
Graphically it is seen as a line that is higher on the left(when the x axis is the prize and the y axis is the demand)
Answer is a , credit scores reflect how likely individuals are to repay Thier debts.. you buy a house , and say they need a credit check. it's to be sure that you're reliable to pay the bills or rent.
