As more firms enter a perfectly competitive industry, the industry supply curve shifts
a. to the left and price falls
b. to the right and price rises
c. to the right and price falls
d. to the left and price rises
e. in an unpredictable way
C
Economics
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According to the law of diminishing returns
A) the total product of an input will eventually be negative. B) the total product of an input will eventually decline. C) the marginal product of an input will eventually be negative. D) the marginal product of an input will eventually decline. E) none of the above
Economics
The combining of First Union National Bank and The National Bank of Memphis is an example of
A) a vertical merger. B) a horizontal merger. C) a downstream formation. D) a conglomerate merger.
Economics