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:

Bicultural Identity

Identity formation that occurs when adolescents identify in some ways with their ethnic group and in other ways with the majority culture.

Ethnic Culture

The shared practices, values, traditions, and beliefs of a specific ethnic group, distinguishing it from other groups.

Majority Culture

Refers to the dominant cultural practices and beliefs of the largest or most influential group within a society.

Connectedness

The state or quality of being connected or interconnected with others, fostering a sense of belonging and support.