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:

Gerontocracy

A society ruled by elderly people.

Sociology

The study of the development, structure, and functioning of human society, as well as the systematic study of social problems.

Human Body

The physical structure of a human being, considered within the study of biology, medicine, and, in certain contexts, sociology and culture.

Median Income

A statistical measure representing the middle income in a range of incomes of a population, where half of the population earns more, and half earns less.