If There Is a Decrease in Industry Supply While the Industry

question 226

Multiple Choice

If there is a decrease in industry supply while the industry demand curve remains the same, then an individual firm in a perfectly competitive industry currently earning losses will see its losses

• A) increase.
• B) not change.
• C) decrease.
• D) impossible to determine

---

Definitions:

South Asians

People originating from the southern region of Asia, which includes countries such as India, Pakistan, Bangladesh, Sri Lanka, Nepal, Bhutan, and Maldives.

STEM Fields

A term referring to disciplines in science, technology, engineering, and mathematics.

Service Industry

A sector of the economy that provides intangible goods or services to consumers, such as healthcare, education, retail, and hospitality.

White Supremacists

Individuals or groups who believe in the superiority of the white race and often advocate for the social, political, and economic dominance of whites.