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:

Workforce

The collective group of individuals who are engaged in any form of employment, whether in a company, organization, or self-employed.

Advancing Technology

The ongoing development and application of scientific knowledge to industrial or commercial objectives, leading to new or improved technologies and innovation.