If an Industry Experiences an Increase in the Number of Firms,then

question 65

Multiple Choice

If an industry experiences an increase in the number of firms,then:

• A)the new firms will produce more than the original firms.
• B)the industry supply curve will shift left.
• C)the new firms will produce the same amount as the original firms.
• D)the industry supply curve will shift right.

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Definitions:

Uniform Commercial Code

A comprehensive set of laws governing commercial transactions in the United States, aimed at standardizing practices across states.

Business Activities

All actions undertaken by a company as part of its commercial, industrial, or professional operations, including production, selling, and administration.

Sales Laws

Regulations governing the sale of goods and services, including terms of contracts, warranties, and consumer protections.

Executive Branch

The division of a government responsible for implementing and enforcing laws, typically led by the President or Prime Minister.