Entry of new firms into an existing market causes:
A) an upward movement along the market supply curve.
B) a downward movement along the market supply curve.
C) a rightward shift of the market supply curve.
D) a leftward shift of the market supply curve.
C
Economics
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When the market for a commodity is in equilibrium:
A) there will still be some unsold stock of the commodity. B) all sellers of the commodity will want to change their behavior. C) no economic agent will want to change his or her behavior. D) all buyers of the commodity will want to change their behavior.
Economics
In the above, a marginal revenue curve for a perfectly competitive firm is shown in Figure ________
A) W B) X C) Y D) Z E) X and Figure Z
Economics