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In a Perfectly Competitive Market, a Decrease in the Market

question 27

Multiple Choice

In a perfectly competitive market, a decrease in the market demand will ultimately lead to firms ______in the market and a _______ market equilibrium quantity.


Definitions:

Boycotts

Organized refusal to buy, use, or participate in something as a form of protest or to exert pressure for change.

Taft-Hartley Act

A 1947 United States federal law that restricts the activities and power of labor unions, also known as the Labor Management Relations Act.

Prohibits

Officially forbids or disallows a certain action, behavior, or practice by law or regulation.

Coercing Employees

The act of compelling employees to act or not act under threat, pressure, or intimidation, often in the context of labor relations.

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