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Graph 14-9 -Refer to Graph 14-9. When a Firm in a Competitive

question 166

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Graph 14-9
Graph 14-9    -Refer to Graph 14-9. When a firm in a competitive market, like the one depicted in panel (a) , observes market price rising from P<sub>1</sub> to P<sub>2</sub>, it is most likely the result of: A)  an increase in market supply from Supply<sub>0</sub> to Supply<sub>1</sub> B)  an increase in market demand from Demand<sub>0</sub> to Demand<sub>1</sub> C)  entrance of new firms into the market D)  the exit of existing firms in the market
-Refer to Graph 14-9. When a firm in a competitive market, like the one depicted in panel (a) , observes market price rising from P1 to P2, it is most likely the result of:


Definitions:

Enslavement

The act or condition of being forcibly kept in a state of bondage and made to perform labor without the freedom to leave or refuse.

African Americans

A term used to refer to citizens or residents of the United States who have origins in any of the black populations of Africa.

John Woolman

An 18th-century Quaker preacher and abolitionist known for his writings and efforts to end slavery in the American colonies.

Anthony Benezet

A French-American educator and abolitionist who argued against the slavery of Africans and founded one of the first schools for Black students in Philadelphia.

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