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:

Thomas Malthus

An English economist and demographer, best known for his theory that population growth will outpace the food supply, leading to societal collapse.

Industrialization

The development of industries in a country or region on a wide scale, leading to significant changes in society and the economy.

Population Growth

The increase in the number of individuals in a population, typically measured as a percentage of the existing population.

Gentrification

The process of middle-class people moving into rundown areas of the inner city and restoring them.