When Firms Exit a Perfectly Competitive Industry, the Market Supply

question 217

True/False

When firms exit a perfectly competitive industry, the market supply curve shifts to the left.

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Definitions:

Proportion

A mathematical or statistical relationship between two numbers or quantities that indicates their relative sizes or significance.

Males and Females

The two primary biological and physiological categories of sex in many species, including humans, distinguished by genetic characteristics, reproductive anatomy, and hormonal profiles.

Ethical

Pertaining to or dealing with morals or the principles of morality; pertaining to right and wrong in conduct.

Experiments

Scientific procedures undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.