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What Type of Effect Describes the Competitive Side Effects of the Commitment

question 25

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What type of effect describes the competitive side effects of the commitment that alter the tactical decisions of rivals and,ultimately,the market equilibrium?


Definitions:

Surplus

The situation in which the quantity of a product supplied exceeds the quantity demanded at a given price; excess supply.

Equilibrium Price

The market price at which the quantity of a good supplied is equal to the quantity demanded.

Bushels Demanded

The quantity of a commodity, measured in bushels, that consumers are willing to purchase at a given price.

Bushels Supplied

A measurement reflecting the quantity of a commodity, like grain, provided for sale at a given time.

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