If the Number of Sellers in a Market Increases,the

question 137

Multiple Choice

If the number of sellers in a market increases,the

• A)demand in that market will increase.
• B)supply in that market will increase.
• C)supply in that market will decrease.
• D)demand in that market will decrease.

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Definitions:

Marginal Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good varies as production volume changes.

Raw Materials

The basic materials from which products are manufactured or made.

Average Total Cost

The total cost of production divided by the quantity produced, encompassing both fixed and variable costs to provide a per-unit cost basis.

Fixed Costs

Business expenses that are not dependent on the level of goods or services produced by the business, such as rent and salaries.