In the Long Run,the Movement of Firms into and Out

question 29

Multiple Choice

In the long run,the movement of firms into and out of a perfectly competitive market will influence price by

• A)shifting the market demand curve
• B)shifting the market supply curve
• C)making the market supply curve less elastic
• D)making the market demand curve less elastic
• E)shifting the supply curve for each firm in the market

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Definitions:

Maximum Height

The highest point or peak that an object or function reaches.

Horizontal Distance

The measurement of distance between two points along a straight line on the horizontal plane.

Consecutive Odd Integers

A sequence of odd numbers where each number is two more than the previous one.

Product

The result of multiplying two or more numbers together.