When Firms Enter a Market,the ________,Causing Individual Firms' Profits to ________

question 151

Multiple Choice

When firms enter a market,the ________,causing individual firms' profits to ________.

• A) long-run market supply curve shifts right; decrease
• B) short-run market supply curve shifts left; decrease
• C) short-run market supply curve shifts left; increase
• D) short-run market supply curve shifts right; decrease
• E) short-run market supply curve shifts right; increase

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Definitions:

Increase

An uptick in size, number, value, or strength.

Posting

The process of transferring journal entry amounts to respective accounts in the ledger.

Equality

A principle ensuring that individuals are treated similarly, without any discrimination based on race, gender, ethnicity, religion, or social status.

Debits and Credits

The two sides of every financial transaction in accounting. Debits increase assets or expenses and decrease liabilities or equity, whereas credits do the opposite.