What Will Happen Graphically If Firms Exit from a Perfectly

question 124

Multiple Choice

What will happen graphically if firms exit from a perfectly competitive industry?

• A)The market demand curve will shift to the right.
• B)The market demand curve will shift to the left.
• C)The market supply curve will shift to the right.
• D)The market supply curve will shift to the left.

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Definitions:

Burden Of Proof

The obligation to prove one's assertion or claim in a legal proceeding.

Responsible Party

The individual or entity legally obligated or held accountable in a particular situation or for a specific act.

Signature Requirement

The need for a person's written mark or signature to authorize documents, contracts, or other formal agreements.

Unconditional Promise

denotes a commitment or guarantee made without stipulating any conditions - the promisor must fulfill their obligation, regardless of external circumstances.