As the Number of Firms in a Market Increases, the Supply

question 185

True/False

As the number of firms in a market increases, the supply curve will shift to the right and the equilibrium quantity will rise.

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Definitions:

Income Inequality

The unequal distribution of an economy’s total income among households or families.

Gini Curve

A graphical representation of the distribution of income or wealth within a society, used to measure economic inequality.

Quintile Distribution

A method of dividing a population into five equal groups based on their income levels or other measures.

Nation's Income

The total amount of money earned within a country from the production of goods and services over a specific time period, including wages, profits, and rental income.