The Textile Industry Is Composed of a Large Number of Small

question 62

Multiple Choice

The textile industry is composed of a large number of small firms. In recent years, these firms have suffered economic losses, and many sellers have left the industry. Economic theory suggests that if technology, imports, and other factors remain constant, these conditions will

• A) shift the market demand curve outward so that price will rise to the level of production cost.
• B) cause the remaining firms to collude so they can produce more efficiently.
• C) cause the market supply to decline and the price of textiles to rise.
• D) cause firms in the textile industry to suffer long-run economic losses.

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Definitions:

Black and/or Latino Urban Youngsters

Refers to young individuals of African American or Hispanic origin living in urban areas.

Immigrant Groups

Communities formed by people who have moved from one country to another, often sharing a common national or cultural identity.

People of Color

A term used to describe individuals of non-white racial or ethnic backgrounds, emphasizing diversity and the experiences of racial discrimination.

Termination and Relocation

Policies or practices related to ending programs, services, or statuses, and moving individuals, often forcibly, from one location to another.