Figure 3-2 -Refer to Figure 3-2.An Increase in the Number of Firms

question 46

Multiple Choice

Figure 3-2
-Refer to Figure 3-2.An increase in the number of firms in the market would be represented by a movement from

• A)A to B.
• B)B to A.
• C)S1 to S2.
• D)S2 to S1.

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Definitions:

Moral Principles

Fundamental beliefs about what is right, wrong, or acceptable in behavior or decision-making.

Ethics

A branch of philosophy dealing with values relating to human conduct, with respect to the rightness and wrongness of certain actions.

Laws

Society’s values and standards that are enforceable in the courts.

Enforceable

Describes legal agreements or rules that are valid and can be implemented or compelled by law.