If new firms enter a perfectly competitive industry seeking economic profit and begin supplying goods in the market,which of the following will occur?
A) The market supply curve will shift leftward.
B) The market supply curve will shift rightward.
C) The market supply and demand curves will both shift to the left.
D) The market supply and demand curves will both shift to the right.
E) There will be a downward movement along a fixed supply curve.
Correct Answer:
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