If the Number of Firms Producing Mouthwash Increases and Consumer

question 27

True/False

If the number of firms producing mouthwash increases and consumer preference for mouthwash increases, the equilibrium price of mouthwash will definitely increase.

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Definitions:

Explanation

A statement or account that makes something clear by describing the relevant structure or operation, or circumstances, providing insight into cause-and-effect relationships.

General Curiosity

General curiosity refers to a broad interest and inquisitive nature towards a wide range of subjects or phenomena without specific focus.

Explanation

A statement or account that makes something clear by describing it in more detail or revealing relevant facts or ideas.

Psychology

The scientific study of the mind and behavior, encompassing various facets of conscious and unconscious experience as well as thought.