As a Result of Firms Leaving the Perfectly Competitive Frozen

question 66

Multiple Choice

As a result of firms leaving the perfectly competitive frozen yoghurt market in the early 2000s, the market

• A) demand curve shifted leftward.
• B) supply curve shifted rightward.
• C) supply curve did not change.
• D) demand curve shifted rightward.
• E) supply curve shifted leftward.

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Definitions:

Conditional Sales Contract

An agreement where the buyer takes possession of an item but its formal title and ownership remain with the seller until all terms of the contract are fulfilled.

Purchase Money Securities Interest

A legal claim that allows lenders to have a security interest in an item that was purchased with the funds they provided.

Security

Measures or mechanisms put in place to protect against theft, espionage, or other threats to safety and privacy.

Inventory

The total quantity of goods and materials that a business holds for the purpose of resale or production.