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:

Rewards

Rewards are benefits or compensations given in recognition of someone's effort, achievement, or behavior, aimed at reinforcing positive actions and encouraging continuation of such behaviors.

Self-efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.

Favorable Outcomes

Results or consequences of an action or situation that are beneficial or advantageous.

Master

An individual with authority or control over others, or someone highly skilled in a particular craft or subject.