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Empirical evidence suggests that more digital cameras are being sold today than one year ago, and the selling price has decreased. The probable reason for this could have been an increase in supply.
Imperfectly Competitive
A market structure where individual producers have some control over the price and supply of products, as opposed to perfect competition where no single producer can influence the market.
Market Price
The prevailing rate at which a commodity or service is available for purchase or sale in a specific market.
Quantity Supplied
The total amount of a good or service that producers are willing and able to sell at a given price over a specific time period.
Number of Sellers
Refers to the total quantity of providers or suppliers offering a particular good or service in a market.
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