If the Number of Sellers Decreases,then the Supply Curve ________

question 113

Multiple Choice

If the number of sellers decreases,then the supply curve ________ and the supply ________.

• A) shifts rightward; increases
• B) shifts rightward; decreases
• C) shifts leftward; increases
• D) shifts leftward; decreases
• E) does not shift; does not change, but there is a decrease in the quantity supplied

Differentiate between the types of legal protection for innovations and their roles in encouraging R&D.

Comprehend how market structures impact firms' incentives to engage in R&D and innovation.

Identify factors that influence a firm's ability to innovate and deal with imitation.

Understand the process innovation's role in increasing productive efficiency.

---

Definitions:

Risk-Free Asset

An investment guaranteed to return the original investment without any loss, typically associated with high-grade government securities.

Indifference Curve

In economics, a curve that represents different combinations of goods or services among which a consumer is indifferent, showing preferences.

Risk-Free Asset

An investment that is expected to deliver its returns without any risk of financial loss, traditionally government bonds are considered close to risk-free.

Utility

The measure of the welfare or satisfaction of an investor.