Other things being equal, as more firms enter a market, the market supply curve
A. Shifts to the right.
B. Becomes more inelastic.
C. Intersects the demand curve at a higher price.
D. Shifts to the left.
Answer: A
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Suppose a country had a smaller increase in debt in 2011 than it had in 2010 . Then other things the same, we would expect
a. lower interest rates and investment in 2011 than in 2010. b. lower interest rates and greater investment in 2011 than in 2010. c. higher interest rates and greater investment in 2011 than in 2010. d. higher interest rates and lower investment in 2011 than in 2010.
Copayments and deductibles in insurance policies increase moral hazard.
Answer the following statement true (T) or false (F)
Consider an unregulated monopoly in Figure 8.13. If that monopoly sets its price equal to its marginal cost, it would:
A. earn negative profits. B. earn maximum profits. C. earn zero profits. D. earn small, but greater than zero, profits.
The benefits of social regulation usually are
A. always a zero sum. B. difficult to measure. C. less than the costs of social regulation, reducing overall welfare. D. obvious to people while the costs are hidden.