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In the Long Run, the Number of Firms in an Industry

Question 337

Multiple Choice

In the long run, the number of firms in an industry may change. If the number of firms increases, then


A) the supply curve will shift outward to the right.
B) the demand curve will shift outward to the right.
C) the supply curve will shift inward to the left.
D) the demand curve will shift inward to the left.

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