In graph a, why does q1 move to q2?
a. When firms leave the market, the demand increases for the firms remaining, causing quantity to increase for each firm.
b. When firms leave the market, the price decreases for the firms remaining, causing quantity to increase for each firm.
c. When firms leave the market, the demand decreases for the firms remaining, causing quantity to decrease for each frim.
d. When firms leave the market, the price increases for the firms remaining, causing quantity to decrease for each firm.
a. When firms leave the market, the demand increases for the firms remaining, causing quantity to increase for each firm.
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Which of the following is a macroeconomic statement?
A) Real domestic output of seafood increased 12 percent from 2015 to 2016. B) The U.S. inflation rate was two percent in 2016. C) The price of cell phones decreased by 18 percent last year. D) Motorcycle manufacturer productivity decreased by three percent in 2016.
Which of the following statements is true of market prices in a perfectly competitive market?
A) Market prices are determined by the government. B) Market prices allow for efficient allocation of scarce resources. C) Market prices are not stable and fluctuate widely. D) Market prices do not act as incentives for buyers.
What is game theory and what light does it shed on the issues faced by duopolists?
What will be an ideal response?
Types of money used by colonists included all of the following except:
a. gold and silver coins. b. bills of exchange. c. bills of credit. d. government-issued fiat currency.