60 678
Assignments Done
97,7%
Successfully Done
In April 2018

Answer to Question #71552 in Microeconomics for yusuf

Question #71552
Suppose that the price prevailing in competitive market rises, perhaps because of an increase in market demand, how a competitive firm responds to the price increase?
Expert's answer
With increasing prices in a competitive market, the competing company will begin to increase its supply of goods, that is, the company will begin to produce more goods.

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be first!

Leave a comment

Ask Your question

Submit
Privacy policy Terms and Conditions