Answer:
3. cannibalization
Explanation:
This term refers to the situation were sales or the market share of a product are reduced because another product is introduced by the same company.
Answer:
The statement represents the Straw Man fallacy.
Explanation:
A Straw Man fallacy is a version of an argument that is misrepresented, simplified so that it will be easier to defeat. It replaces or represents whatever actual argument is being made. The Straw Man fallacy in some cases is not provided intentionally. They could also be the result of talking about something with little to no previous knowledge of it.
Thus, as the evolutionary theory does not only proposes that humans come from monkeys with less hair and bigger brains, <em>the statement is oversimplifying the different researches on that topic</em> falling into a Straw Man fallacy.
Answer:
Price will not change
Explanation:
A perfectly competitive market is a market where there are many firms that produce and sell similar products, no barriers to entry and exist, all firms are price takers and none of the firms is big enough or has the power to influence the market or change the price in the market.
The implication is that a firm can decide to increase its output to any level in perfectly competitive market market, but this increased out can only be sold at the market price which it has no power to change.
Therefore, if Glass Inc. Glass Inc. increases production to 120 window panes from 80, the price will still remain at $60, every other thing remain constant.
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