If the number of buyers in a market decreases, then
a. demand will increase.
b. demand will decrease.
c. supply will increase.
d. supply will decrease.
b
You might also like to view...
Suppose that all pizza companies have the same costs and the minimum average total cost is $12 per pizza. The pizza companies have an efficient scale of 100 pies per night
In the small town of Coatsville, at the price of $12 per pizza the quantity demanded is approximately 300 pizzas per night. This market, therefore, can best be characterized as A) perfectly competitive. B) a natural monopoly. C) a natural duopoly. D) a natural oligopoly.
The law of demand
A) was passed by the 102nd U.S. Congress. B) is a natural law, much like the law of gravity. C) is considered a "law" in economics because of the overwhelming empirical evidence that supports its logic. D) is considered a "law" in economics in order to force economic models to operate fully.
Does it ever make sense to purchase a stock that has never paid a dividend? Explain
What are the sources of increasing returns and economies of scale of the recent increase in trend rate productivity experienced in the U.S.?
What will be an ideal response?