Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

fill in the blank question firms with downward - sloping product demand…

Question

fill in the blank question firms with downward - sloping product demand curves are called price (enter one word in the blank.)

Explanation:

Brief Explanations

In economics, firms with downward - sloping product demand curves have market power and can influence the price. They are price setters as they can choose the price - quantity combination on the demand curve.

Answer:

setters