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15-04-2022
Business

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True or False: If Edisonâ€™s Fire Engines were a price-taking firm instead, and $105,000 were the market price for an engine, increasing its production would not affect the price at which it could sell engines.

Respuesta :

28-04-2022

If Edisonae's fire engines were a price taking firm, the price if is increased the demand for the engines will be lowered.

What is price elasticity of demand?

Price elasticity of demand is the ratio between the price of a good and its demand in the market. The demand decreases when the price is increased and the demand is increased when the price is decreased.

Therefore the sentence is False, because if production is increased the price of the engines will be affected.

Learn more about Price elasticity of demand at https://brainly.com/question/26606961

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