The entry of new firms into a monopolistic competitive industry will shift the
a. market demand curve to the right
b. market demand curve to the left
c. existing firms' demand curves to the right
d. existing firms' demand curves to the left
e. market supply curve to the left
D
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If the price of land is zero,
a. the supply of land is a horizontal line b. rent is zero and land is a free good c. the MRP curve is positively sloped d. land rents are positive e. demand for land is relatively high
A union that pursued a policy of restricting entry over time into the union would
A. see real wages hold constant over time at whatever premium they could get initially. B. generate rising real wages for its membership over time as long as demand for union workers increased over time. C. also have to negotiate to be sure that all the members were able to find jobs. D. fail to obtain benefits for their workers in excess of what the workers would get under open markets.