As new firms enter a market,the equilibrium price will

Name: As new firms enter a market,the equilibrium price will
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Question

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The entry of new firms in a market increases the competition, leading to an increase in the supply of goods or services. This increase in supply causes a shift in the supply curve to the right, resulting in a lower equilibrium price. Therefore, the equilibrium price will fall as new firms enter the market.

As New Firms Enter a Market,the Equilibrium Price Will