Which of the Following Is False

question 18

Multiple Choice

Which of the following is false?

• A)As firms exit an industry, market supply decreases.
• B)As firms exit an industry, market price increases as demand increases.
• C)As firms exit an industry, economic losses for the remaining firms decrease.
• D)As firms exit an industry, at least some firm output increases.
• E)As firms exit an industry, industry output is reduced.

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Definitions:

Conflict Sources

The origins or causes of disagreements or disputes, which can range from personal differences to conflicting objectives or resources.

Expert Power

The influence possessed by an individual due to their expertise, skills, or knowledge in a particular area.

Knowledge-Based Economy

An economy where growth is dependent primarily on the quantity, quality, and accessibility of information available, rather than the means of production.

Industrial

Related to the production of goods and services, especially those produced in factories or large-scale enterprises.