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heyitsnott3rex
22.08.2019 •
Social Studies
Can someone
increased competition between producers of a good may lead to
a. a decrease in profit
b. an increase in price
c.a drop in demand
d. a rise in taxes
Solved
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Ответ:
A. a decrease in profit
Explanation:
Increased competition between suppliers of the same product tends to benefit consumers, as competition leads to a decrease in the price and profit margin of suppliers. As more competitors participate in the market, each one tries to sell the product at a lower price to gain a larger share of the market. Consequently, the profit margin is smaller and only the most efficient suppliers tend to remain in the market in the long run.
Ответ:
absolute advantage is an ability that a person/organization have to perform way better at a specific task compared to other person/organization.
another example of absolute advantage: countries in the middle east have an absolute advantage in oil business due to their massive oil resources.