The entry of new firms into an industry will very likely

a. shift the industry supply curve to the right.
b. cause the market price to fall.
c. reduce the profits of existing firms in the industry.
d. All of the above are correct.


d

Economics

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A standard that identifies a pollution limit to be achieved without defining the technology to be used is called a(n)

a. ambient standard c. technology-based standard b. performance-based standard d. efficient standard

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A) one particular action for a situation B) different actions randomly C) an action that yields a higher payoff to the opponent D) an action that yields zero payoff to the player

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The benefits to trading nations based on comparative advantage accrue from

A. specialization and trading. B. trading only. C. specialization only. D. protection of domestic industries.

Economics