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

question 203

True/False

As the number of firms in a market decreases, the supply curve will shift to the left and the equilibrium price will rise.

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Definitions:

Absence

The state of being away or not present; in healthcare, it may refer to the lack of symptoms, disease, or issues.

Theory

A system of ideas intended to explain something, based on general principles independent of the thing to be explained, used as a basis for further study or investigation.

Meso Compound

A type of stereochemical configuration in compounds with multiple chiral centers that has an internal plane of symmetry, making it achiral despite having stereocenters.

Molecule

The smallest particle of a chemical substance that can exist independently while retaining the composition and chemical properties of the substance.