You stop by a crafts fair and you notice consumershaggling with vendors over prices. What does thistell you about the competitiveness of this market?Suppose you plan to go to a farmers’ market next.Do you expect to find more or less haggling at thismarket than you did at the crafts fair? Why?

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A: Cartridge refers to the ink container that is generally used with the printers to print the data on…

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A: Market Supply The total quantity of a specific good or service that is made available to customers…

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A: Market Supply Curve: It is the graphical representation of the summation of all individual Supply…

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A: Part a:At Present Equilibrium, Quantity Demanded = Quantity SuppliedSo, from the data of Quantity…

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Q: How do changes in price only affect supply? Choose all that apply A)Change supply B)Dont change…

A: Two options are correct : Don't Change Supply  Change Quantity Supply

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A: When demand increases,supply remaining same. Equilibrium price increases.

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A: Market equilibrium: At the market equilibrium we have demand equals to supply. Or at market…

Q: Price (dollars per unit) 100 80 60 40 20 MC MR D 0 20 40 60 80 Quantity (units per week) Figure 3 a)…

A: Perfect competition: It refers to the competition under which there is a small number of firms in…

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A: An individual demand curve depicts the quantity demanded of a good by a single consumer at different…

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A: Because amunition is suplement for gun,therefore if it is taxed supply of guns would be decreased.

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A: MC is marginal cost which is the addition to total cost when an additional unit is produced.ATC is…

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A: A rival good is something that only one user may acquire or consume. On the other hand, a product is…

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A: Recession is a phase of business cycle which is period of falling economic activities.

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A: Demand Shocks: The term demand shock refers to the sudden increase or decrease in the demand for a…

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A: Both production and consumption are important economic activities. As it is very popularly known, a…

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