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When the number of producers in a particular industry increases what will the supply do?
When the number of producers in a particular industry increases, the overall supply in that industry typically rises. This is because more producers contribute to the total output, making more goods available in the market. As supply increases, it can lead to lower prices if demand remains constant, creating a more competitive environment among producers. Ultimately, this shift can benefit consumers through greater availability and potentially lower prices for goods.
What is markets in which firms sell their output of goods and services?
The product market is the market in which firms sell their output of goods and services.
If competitive industry Z is making substantial economic profit output will?
if competative industry z is making substantial economic profit, output will:
What is the meaning of a four-firm concentration ratio of 50 percent?
A four-firm concentration ration of 50 percent means that the top four firms of a particular industry produce 50% of the total output for the entire industry. The higher the concentration ration, the closer the industry becomes to an oligopoly or a monopoly.
What are the imports in industry to increase output and perhaps exports?
what are the imports in indusrty to increase output and perphaps exports
When the number of producers in a particular industry increases what will the supply do?
When the number of producers in a particular industry increases, the overall supply in that industry typically rises. This is because more producers contribute to the total output, making more goods available in the market. As supply increases, it can lead to lower prices if demand remains constant, creating a more competitive environment among producers. Ultimately, this shift can benefit consumers through greater availability and potentially lower prices for goods.
What economic institution in a market economy converts raw materials into fin?
Put simply there are 3 stages like (a) Firm: Uses raw materials to produce output, may be intermediate or final, (b) Industry: A collection of identical firms, (c) Market: The output is put for sale by the industry, the meeting or exchange place, where producers meet consumers.
Who are the customers of the surgical and medical instrument industry?
Major consumers of industry output in order of market size include foreign consumers, the federal government, medical and health services, doctors and dentists
What is markets in which firms sell their output of goods and services?
The product market is the market in which firms sell their output of goods and services.
If competitive industry Z is making substantial economic profit output will?
if competative industry z is making substantial economic profit, output will:
What is the input process and output in service industry?
Input : What is put into the industry. Process : What is done to the inputs to acheive the finished product. Output : What you have made/produced. Example of an Argricultral Industry: Cow (Input) Milking (Process) Milk (Output) Hope this helps you!! :D
What is the meaning of a four-firm concentration ratio of 50 percent?
A four-firm concentration ration of 50 percent means that the top four firms of a particular industry produce 50% of the total output for the entire industry. The higher the concentration ration, the closer the industry becomes to an oligopoly or a monopoly.
What is market efficiency?
it is a broad concept and final result..... M.E. is simply defined as the ratio between the market output to the market input multiplied by 100. so, ME= market output or satisfaction / market input or cost of resources X 100
What can a firm with market power do?
A firm with market power has the ability to control prices and total market output .
What are the imports in industry to increase output and perhaps exports?
what are the imports in indusrty to increase output and perphaps exports
What was the value of output for the softwood veneer and plywood industry in 2001?
The Bureau of the Census reported the value of output for the plywood and veneer (softwood) manufacturing industry as $4.4 billion for 2001. The demand for veneer and plywood depends on the construction industry.
What is a oligopolistic industry?
An oligopolistic industry is characterized by a market structure where a small number of firms dominate the market, leading to limited competition. These firms have significant market power, allowing them to influence prices and output levels. Due to their interdependence, the actions of one firm can directly impact the others, often resulting in strategic behavior such as collusion or price wars. Common examples include the automotive, telecommunications, and airline industries.
