A Decrease in the Number of Sellers in the Market

question 13

Multiple Choice

A decrease in the number of sellers in the market causes

• A)the supply curve to shift to the left.
• B)the supply curve to shift to the right.
• C)a movement up and to the right along a stationary supply curve.
• D)a movement downward and to the left along a stationary supply curve.

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Definitions:

Automobile Dealers

Businesses specializing in the sale of new or used cars and possibly offering maintenance services and spare parts.

Fair Credit Billing Act

A U.S. law designed to protect consumers from unfair billing practices and provides a mechanism for addressing billing errors on credit card statements.

Errors In Credit Card Billings

Mistakes or inaccuracies in the billing statements of credit card accounts, which can range from unauthorized charges to incorrect amounts charged.

Truth-In-Lending Act

A federal law designed to promote the informed use of consumer credit, by requiring disclosures about its terms and cost to standardize the manner in which costs associated with borrowing are calculated and disclosed.