In the Following Figure, the First Panel Shows a Market

question 86

True/False

In the following figure, the first panel shows a market situation prior to regulation and the second panel shows the effects of regulation.Figure 14.2
In the figure,
D: Demand curve for automobiles
S₁: Supply curve of automobiles prior to regulation
S₂: Supply curve of automobiles after regulation
FG: Clean up cost per unit
-If a market is narrowly defined, the market share of each firm declines than if it is broadly defined.

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