In the Long Run, the Number of Firms in an Industry

question 337

Multiple Choice

In the long run, the number of firms in an industry may change. If the number of firms increases, then

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

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Definitions:

Neonatal Period

The first 28 days of life, a critical time for a newborn's development and adaptation outside the womb.

Kinetic Stimulation

The use of motion or activity as a form of therapy to improve mental or physical health.

Gross Motor Coordination

The ability to use large muscles to perform tasks like walking, jumping, and maintaining balance.

Fine Motor Skills

The coordination of small muscle movements usually involving the synchronization of hands and fingers with the eyes.