The number of firms producing computer memory chips decreases. As a result, the price of a memory chip ________ and the quantity of memory chips ________.

Name: The number of firms producing computer memory chips decreases. As a result, the price of a memory chip ________ and the quantity of memory chips ________.
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Question

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The decrease in the number of firms producing computer memory chips leads to a decrease in supply. As a result, the price of a memory chip rises and the quantity of memory chips decreases.

The Number of Firms Producing Computer Memory Chips Decreases