The Exit of Existing Firms from an Industry Will Very

question 127

Multiple Choice

The exit of existing firms from an industry will very likely

• A)shift the industry supply curve to the left.
• B)cause the market price to rise.
• C)eliminate the losses of existing firms in the industry.
• D)All of the responses are correct.

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Definitions:

Narcissism

A personality trait characterized by an inflated sense of one's own importance, need for admiration, and often a lack of empathy for others.

Self-Important

Having an exaggerated sense of one's own value or importance.

Happy

Experiencing a state of contentment, joy, or pleasure.

Self-Disclosure

The act of revealing personal information about oneself to others, which can create intimacy and trust in relationships.