Exhibit 8-18 -The Movement Along Curve S from E to E' in to E

Exhibit 8-18
-The movement along curve S from E to E' in the right panel of Exhibit 8-18 represents

A) an increase in the number of firms in the industry only
B) an increase in output by each of a fixed number of firms in the industry
C) both an increase in the number of firms in the industry and an increase in each firm's output
D) the response of consumers to an increase in supply that lowers the market price
E) an increase in total revenue from $8 to $12