D. the shareholders decide who sits on the board of directors
Hi!
An agreement among firms regarding price and/or production levels is called collusion. =)
Here is the answer that completes the statement above.
Regarding the situation of Toby who runs a small deli downtown, if he is already maximizing his profits, therefore, we can say that the number or amount of delis will soon increase or rise. Hope this answers your question.
Answer:
The answer is: C) The minimum price sellers are willing to accept to sell an extra unit of a good.
Explanation:
A normal supply curve should move upward from left to right. The expresses the Law of Supply: (given that all other factors remain without change) As the price of a product increases, the quantity supplied should also increase.
For example:
An ounce of gold costs right now $1,500 and 100 ounces of gold are being traded right now at that price. If a new buyer comes in and wants to buy the 101th ounce of gold, then following a normal supply curve, the new buyer would need to pay more for that extra ounce of gold, maybe $1,510.
What the supply curve shows us is that given a certain price Y, a company will be willing to sell X amount of goods. The more demand a product has (X + 1) > X, then the price Y will increase until a new balance is found.