To See How the Equilibrium Price Is Affected by the Increase

question 29

Multiple Choice

To see how the equilibrium price is affected by the increase in industry output that comes from the entry of new firms, take the derivative of _____ and see whether it is positive or negative.

• A) price with respect to industry output
• B) the number of firms with respect to industry output
• C) price with respect to the number of firms
• D) the number of firms with respect to price

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Definitions:

Chronic Anxiety

Persistent and excessive worry that interferes with daily activities, lasting for an extended period of time.

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