Figure 6-6b
-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.

Question

Figure 6-6b
-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.

Quizplus · Accepted Answer

As the number of sellers increases, the supply of the product or service also increases. This leads to a larger quantity of supply available in the market, which typically leads to a decrease in the price in order to remain competitive. Therefore, the price decreases as the number of sellers increases.

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