11: For parts (1)-(3), suppose the market for hibiscus plants is perfectly competitive and the long-run cost for hibiscus plants for any firm in this market is C(q) = 70q – 20q² + 2q³ The market demand for hibiscus plants is given by the function D(p) = 30 -

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The figure below depicts the market supply and demand for the perfectly competitive rollerblade industry. S Price per pair of Rollerblades 1,140 070 50 150 Number of pairs of Rollerblades per week Based on the figure above, if the current quantity demanded of rollerblades is 150 per week, you accurately predict that in the short run, Q Select one: a. price and quantity supplied will increase and quantity demanded will decrease. b. price and quantity supplied will decrease and quantity demanded will increase. c. price, quantity supplied and quantity demanded will increase. d. price, quantity supplied and quantity demanded will decrease.

What type of market competitive environment Amazon operates in?