As more firms enter an industry, the industry supply curve shifts left.
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Q103: The equilibrium price of a good is
Q104: The equilibrium price of a good is
Q105: The equilibrium price of a good is
Q106: At prices above the equilibrium price, shortages
Q107: At prices below the equilibrium price, shortages
Q109: Changes in a firm's production costs will
Q110: Scarcity can be eliminated by increasing the
Q111: A shortage can be eliminated by increasing
Q112: A surplus can be eliminated by lowering
Q113: Because our price system does not ration
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