Asked by
wedjulee jeudy
on Dec 12, 2024
Verified
As new firms enter a competitive price-searcher market, it can be expected that
A) market price will increase.
B) the output of existing firms will increase.
C) profits of existing firms will increase.
D) market demand should decrease.
E) profits of existing firms will decrease
Competitive Price-searcher Market
A market structure where firms have some control over the pricing of their products due to differentiation, but still face significant competition.
Market Demand
The overall volume of a good or service that consumers in a market are ready and able to buy across a range of prices.
- Evaluate the consequences of businesses entering and leaving the market on price determination, demand fluctuations, and economic returns in competitive price-seeking environments.
- Ascertain the effects of economic earnings, losses, and equilibrium on company operations and market architecture.
Verified Answer
AM
Learning Objectives
- Evaluate the consequences of businesses entering and leaving the market on price determination, demand fluctuations, and economic returns in competitive price-seeking environments.
- Ascertain the effects of economic earnings, losses, and equilibrium on company operations and market architecture.
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