1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
DerKrebs [107]
3 years ago
9

What is the relationship between competition and consumer action in these situations?

Social Studies
1 answer:
Mashutka [201]3 years ago
5 0

Answer: In the carrot scenario, Derek is able to find carrots at the price he wishes to pay because one competitor offers a lower price. That competitor is successful in making a sale and competition causes the consumer to keep looking until the desired price is found. Likewise in the computer scenario, Melissa still searches in a number of places for the desired computer. Competition again is driving the consumer action of shopping around. However, in this case, the consumer is unable to find the desired price and ultimately decides that since all competitors are asking the same price, this must be a fair market price. In that case Melissa wants the model she wants and is willing to pay a higher price for it, but only after exhausting all of her available options by checking out many competitor prices.

You might be interested in
Which mineral resource is Cuba a major producer of? Question 4 options: A.) oil B.)gold C.)silver D.)nickel
Vladimir [108]

Gold. However they produce silver and nickel as well.


8 0
3 years ago
Read 2 more answers
You are studying in a quiet but crowded library when you suddenly start coughing. you soon notice others doing the same thing. t
Korvikt [17]
<span>social contagion
   This happens when there is the inclination for certain conduct displayed by one individual to be duplicated by other people who are either in the region of the first person who displayed that behaviour . It was initially postulated by Gustave Le Bon in 1895</span>
8 0
3 years ago
James Madison did not believe that the Bill of Rights was necessary but drafted the amendments because there was popular support
tangare [24]
<span>b. People felt that the Constitution did not sufficiently protect their rights.* </span>
6 0
3 years ago
Sleeping is a behavior that is dependent on both instinctive and environmental conditions. Please select the best answer from th
Veronika [31]

Sleeping is a behavior that is dependent on both instinctive and environmental conditions.

True

3 0
3 years ago
Read 2 more answers
What is the best definition of unicameral? a representative of the people an agreement by which each party gives up something a
Dennis_Churaev [7]

The best definition of unicameral is a government with one legislative body, hence the word "uni". The United States had a unicameral type of legislature but was later changed because all the states had the same number of representations, even though a state has a low or high amount of population. The United States changed from a unicameral to a bicameral legislature, which is composed of the Senate and the House of Representatives.

6 0
3 years ago
Read 2 more answers
Other questions:
  • What is the primary goal of NAFTA? to eliminate barriers to trade and investment between Canada, Mexico and the U.S. to ensure m
    13·2 answers
  • Explain three harmful effects on poverty in one's personal health
    8·1 answer
  • What is the only african nation that was abundance of oil
    7·1 answer
  • Which of the following topics is NOT a main concern of sociologists? personal satisfaction in the work place,urbanization,causes
    13·1 answer
  • What is known of light of asia​
    11·1 answer
  • The Canal Zone includes land around the canal, the ports, and the railroad<br>true or false
    11·2 answers
  • Why is the United States interested in oil in southwest Asia?
    8·1 answer
  • 12. What brought the declining need of cattle drives &amp; why?
    8·1 answer
  • According to FDR, what is the top priority for the government?
    11·1 answer
  • If you like to spend time outdoors working with plants and animals, you have a(n) _____. a. bodily/kinesthetic learning style b.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!