Multiple Choice
Exhibit 8.12
-Refer to Exhibit 8.12,which shows price per unit and quantity per period of an increasing-cost industry.Why would supply move from S to S'?
A) The number of firms in the industry increased.
B) The number of firms in the industry decreased.
C) The number of firms in the industry stayed the same.
D) Because demand increased from D to D'.
E) Because demand decreased from D to D'.
Correct Answer:
Verified
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