In a Competitive Market What Happens to Price When There

question 143

Multiple Choice

In a competitive market what happens to price when there is a decrease in the supply curve?  

• A) It increases. 
• B) It decreases. 
• C) It stays the same. 
• D) It may increase or decrease.

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Definitions:

Direct Supervision

The management approach where a supervisor is directly involved in overseeing and guiding the work of subordinates, often with immediate feedback and control.

Larger Firms

Businesses or companies with a significant number of employees, extensive operations, and high revenue.

Organic Structures

Organizational frameworks characterized by flexibility, decentralized decision-making, and a lack of strict hierarchies or rules.

Dynamic Environments

refers to settings or contexts that are constantly changing, often unpredictably, requiring organizations and individuals to adapt quickly.