When the Number of Firms in a Market Decreases

question 72

Multiple Choice

When the number of firms in a market decreases,

• A) the demand curve shifts to the left.
• B) the demand curve shifts to the right.
• C) the supply curve shifts to the right.
• D) the supply curve shifts to the left.
• E) both the supply and the demand curves shift to the left.

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Definitions:

Conflict Management Style

The approaches and methods an individual uses to handle disagreements, disputes, or differences in a constructive or destructive manner.

Accommodation

Adjusting one's behavior or responses to suit another person's needs or preferences, often to maintain harmony in relationships.

Compromise

Conflict management style that attempts to find the middle ground in a conflict.

Coercive Power

is a form of authority or influence that is based on the ability to impose sanctions or punishments, often used in a context where obedience is compelled by fear of negative consequences.