If New Manufacturers Enter the Computer Industry, Then, Holding All

question 304

Multiple Choice

If new manufacturers enter the computer industry, then, holding all other things constant,

• A)each "old" manufacturer must sell fewer computers than before.
• B)some "old" manufacturers must exit the industry.
• C)the equilibrium price of computers must rise.
• D)the equilibrium quantity demanded of computers must rise.

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Definitions:

Common Sense

Practical judgment concerning everyday matters, or a basic ability to perceive, understand, and judge that is shared by ("common to") nearly all people.

Thomas Paine

An influential thinker and author of the 18th century, best known for his works "Common Sense" and "The American Crisis," which advocated for American independence from Britain.

Lockean Liberalism

A political philosophy based on the writings of John Locke, emphasizing individual rights, the rule of law, and the idea that government should be based on the consent of the governed.

Popular Democracy

A form of democracy that emphasizes the role of the people in governance and decision-making processes, often through direct participation or referendums.