An Increase in the Number of Producers of a Good

question 147

Multiple Choice

An increase in the number of producers of a good will

• A)increase the market supply because the price will rise
• B)increase the market supply only if market demand increases too
• C)increase the market supply because market supply is the sum of all individual supply curves
• D)increase the market supply only if all suppliers have an identical supply curves
• E)decrease the market supply because firms compete with each other and each firm will supply more

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Definitions:

Pyridine

A basic nitrogen-containing heterocyclic compound, resembling benzene but with one CH group replaced by a nitrogen atom.

Thionyl Chloride

A reactive chemical compound used widely in organic synthesis to convert carboxylic acids into acyl chlorides.

Trans-4-methylcyclohexanol

An organic compound characterized by a cyclohexane ring with a methyl group and hydroxyl group in trans configuration relative to each other.

Organic Product

A substance resulting from an organic reaction, often characterized by its carbon-based structure.