An Increase in the Number of Producers Will

question 409

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.

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Definitions:

Request

A formal or informal petition for something to be provided or done.

Communication Situation

The context or environment in which communication occurs, including the participants, medium, and purpose.

Wants And Needs

Describes the requirements and desires of individuals or groups, serving as a fundamental concept in marketing and psychology.

Writer's Needs

The requirements or conditions necessary for an author to produce effective and efficient written communication, including a clear purpose and understanding of the audience.