If the Market Demand Curve in a Perfectly Competitive Industry

question 2

Multiple Choice

If the market demand curve in a perfectly competitive industry shifts left,the demand curve for each existing firm will:

• A) shift up.
• B) shift down.
• C) shift right.
• D) shift left.

---

Definitions:

Income from Continuing Operations

The earnings of a company from its core business operations, excluding one-time income or expenses from discontinued operations.

Total Revenues

The sum of all income generated by a business from its normal operations before any expenses are subtracted.

Operating Activities

Activities that constitute the primary or main activities of a business, such as sales and service provision, and their related operational costs.