If the Number of Banana Producers Increases

question 171

Multiple Choice

If the number of banana producers increases,

• A) the demand for bananas increases.
• B) the demand for bananas decreases.
• C) the supply of bananas increases.
• D) the supply of bananas decreases.

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Definitions:

Aluminum

A chemical element, symbol Al, known for its lightweight properties and wide use in various industries such as transportation, construction, and packaging.

Differentiated Oligopolist

A type of oligopoly where firms sell products or services that are distinct from each other and are not perfect substitutes.

Highly Concentrated

Describes a market or industry dominated by a small number of firms, leading to reduced competition and possibly higher prices and lower output.