Multiple Choice
An increase in the number of producers will:
A) increase the market supply, because the price will rise.
B) increase the market supply only when market demand increases too.
C) increase the market supply, because market supply is the sum of all individual supply curves.
D) increase the market supply only if each supplier has an identical supply curve.
E) decrease the market supply, because firms compete with each other and each firm will supply more.
Correct Answer:
Verified
Correct Answer:
Verified
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