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Q: How do supply and demand influence market price in a competitive market environment?
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Why demand always downward slop in competitive market?

The reason why demand curve is always downward slopin a competitive market is because there are many sellers and buyers in the market.so the price of a commodity in such market determines the demand and supply of that product.unlike a monopolistic market were there is just öne seller and many buyers


In a perfectly competitive market an increase in demand will in the long run generally cause?

An increase in demand in a perfectly competitive market will lead to an increase in revenue for the business. The more they sell the more they will make.


Does a perfect competitive market have an influence over price?

In perfect copmetative marker there is no influence of price...


What is equilibrium price in economics?

It is the price where demand equals supply in a competitive market.


When a firm has little ability to influence market prices it is said to be in what kind of a market?

Imperfect monopoly


Four factors influence an industry's competitive rivalry and competitive dynamics?

Market commonality, resource similarities, reputation, and incentives are four factors that influence an industry's competitive rivalry and competitive dynamics. They can have a positive or negative effect.


In a perfectly competitive market individual consumers have .?

no influence over determining price


In a perfectly competitive market, individual consumers have _____.?

no influence over determining price


In a competitive market free of government regulation?

In a competitive market free of government regulation, the price of a product will continue to adjust. The only time it will stop is when demand is equal to the quantity supplied.


In a competitive market the equilibrium price and quantity occur where?

When demand curve intersects the supply curve.


What can happen to prices in a competitive market when demand increases as supply remains the same?

increase in prices


Why is a Monopoly markets undesirable RELATIVE to perfect competitive market discuss?

In Monopoly, there is no market power as the monopoly firm is the only supplier and holds pricing power. However in a perfect competitive market, prices are set by interaction of supply and demand. This is why monopoly markets are undesirable relative to perfect competitive market.