If the Number of Suppliers of a Particular Product Increases

question 1

True/False

If the number of suppliers of a particular product increases, so should the quantity supplied, and the price should fall.

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Definitions:

Discretionary Powers

The authority granted to an official or a body to act according to their own judgment and conscience in certain situations.

Informal Powers

Powers not explicitly stated in laws or regulations but exercised by individuals or institutions through influence, negotiation, or personal authority.

Regulated Industries

Sectors under the direct control and rules of governmental agencies to ensure safety, fairness, and compliance.

Probable Cause

A reasonable basis for believing that a crime may have been committed or that evidence of the crime is present in the place to be searched.