In Figure 6-6B Above,as the Number of Sellers Increases,the Price

question 93

Multiple Choice

In Figure 6-6B above,as the number of sellers increases,the price

• A)increases.
• B)stays the same.
• C)has no relation to the number of sellers.
• D)decreases.
• E)fluctuates depending on economic conditions.

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Definitions:

Online

Pertains to activities or services that are accessible over the Internet.

Brand Loyalty

The tendency of consumers to continuously purchase one brand's products over its competitors' based on positive experiences or emotional connections.

Product Succeeds

When a product achieves its intended goals, such as profitability, market share, or customer satisfaction.

Satisfying Needs

The process of fulfilling basic and psychological desires or requirements of individuals or communities.