An Increase in the Number of Producers Within an Industry

question 11

Multiple Choice

An increase in the number of producers within an industry will cause:

• A) A movement upwards along the supply curve.
• B) The supply curve to shift to the right.
• C) A movement downwards along the supply curve.
• D) The supply curve to shift to the left.

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Definitions:

Employee Time Ticket

A document that records the amount of time an employee spends on various tasks, used for payroll and accounting purposes.

Cost Driver

A factor that influences or contributes to the expense of certain business operations.

Direct Costs

Costs that can be directly attributed to the production of a specific good or service, such as raw materials and direct labor.

Allocation Base

A measure or statistic used to distribute indirect costs to different cost objects, such as departments or products.