When Firms Leave a Perfectly Competitive Market,then,other Things Remaining Unchanged

question 29

Multiple Choice

When firms leave a perfectly competitive market,then,other things remaining unchanged:

• A)the market supply will decrease but the market price will rise.
• B)both the market supply and the market price will fall.
• C)both the market demand and the price will increase.
• D)the market demand will decrease but the market price will fall.
• E)both the market demand and the market supply will decrease.

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Definitions:

CPI

By applying a weighted average methodology, the Consumer Price Index tracks the fluctuations in average prices for a comprehensive array of consumer goods and services, such as medical care, food, and transportation services.

CPI

It's an index that measures the average prices of a basket of consumer services and products, like food, transportation, and healthcare, through their weighted average, known as the Consumer Price Index.

Base Year

A specific year against which economic or financial data is compared to measure changes in prices, outputs, or other economic indicators over time.

Consumer Price Index

An indicator assessing the mean fluctuation over time in the expenses borne by city dwellers for a designated assortment of consumer products and services.