If Rosco's Tacos Competes with Eight Other Fast-Food Restaurants in the Same

question 72

Multiple Choice

If Rosco's Tacos competes with eight other fast-food restaurants in the same neighborhood, and two of those rival firms exit the market, then

• A) the market demand curve will shift to the left.
• B) the market supply curve will shift to the right.
• C) Rosco's demand curve will shift to the right.
• D) Rosco's supply curve will shift to the right.

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Definitions:

Constitutional Convention

A meeting held with the purpose of writing or amending a constitution. In the U.S. context, it refers to the 1787 convention where the Constitution was framed.

Federalists

Supporters of the ratification of the U.S. Constitution, who advocated for a strong national government.

Constitutional Amendment

A change or addition to the constitution, usually requiring a significant agreement process by legislatures and sometimes the public.

James Madison

Known as the "Father of the Constitution" for his pivotal role in drafting and promoting the United States Constitution and the Bill of Rights.