Implication of buyers in market
Describe the implication of big number of buyers in the perfectly competetive market.
Expert
The implication is that no single buyer is in a place to affect the market price on its own since an individual buyer?s purchase forms a negligible proportion of the total purchase of good in the market.
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A demand curve has a slope which would be expressed as like $5/ (1 extra ton demanded) when a: (w) 5 % price cut raises quantity demanded by 1 %. (x) $5 price cut increases quantity demanded by 2000 lbs. (y) $5 price hike boosts quantity supplied by 2
Technological advance in producing both capital goods and consumer goods is illustrated by the shift of the production possibilities curve from AB to: 1) CD. 2) EB. 3) AF. 4) GH. Discover Q & A Leading Solution Library Avail More Than 1447468 Solved problems, classrooms assignments, textbook's solutions, for quick Downloads No hassle, Instant Access Start Discovering 18,76,764 1955789 Asked 3,689 Active Tutors 1447468 Questions Answered Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!! Submit Assignment
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