The demand curve for an individual purely competitive seller's product would shift downward if there were an increase in the:
A) cost of producing the product.
B) number of buyers in the market.
C) number of sellers in the market.
D) popularity of the product among buyers.

Question

Quizplus · Accepted Answer

An increase in the number of sellers in the market for a purely competitive seller's product would increase the supply of the product, leading to lower prices. This is represented by a downward shift in the demand curve for an individual seller's product, as each seller now competes with more sellers for the same buyers.

The Demand Curve for an Individual Purely Competitive Seller's Product