Because MP3 players cost less to make, if demand does not change, there will be more profit. This is because there would be the same amount demand and less money being made into making the product, meaning less expense, which means a bigger profit.
Answer: Private good
Explanation:
According to the given scenario, the Pennsylvania Turnpike is classified the private type of good on the basis of given situation as private good is one of the type of goods that must be purchased by the customers due to its positive advantages or benefits.
The private goods are consumed by the customer in maximum amount in the market as it is one of the essential type of good as it is Rivalry and excludability.
The following are some example of the private goods are as follows:
- Food
- Clothes
- Fresh air
- Knowledge
Therefore, Private good is the correct answer.
Answer:
False
Explanation:
In order to attract more customers to your store and sell larger quantitative, you must sell at a price below the competition, not above.
Rational customers should purchase at the lowest possible price, that is the basic concept behind the law of supply and demand. A lower price should result in a higher quantity demanded.
Answer:
like if you're in a pie challenge
Explanation:
and you eat the pies reaaaaallll fast bc you wanna win. then you're being competitive
Answer:
The price is determined by government intervention and dictated to buyers anti sellers each buyer and teller knows it it illegal to conspire to affect price.
Explanation:
A perfectly competitive firm is a price taker, which implies that it must acknowledge the equilibrium price at which it sells products. In the event that a perfectly competitive firm attempts to charge even a modest sum more than the market price, it will be not able make any sales.
