In a market where businesses are earning high profits,new entrants will cause the supply curve to shift to the _________ and the market price to _________.

Name: In a market where businesses are earning high profits,new entrants will cause the supply curve to shift to the _________ and the market price to _________.
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Question

Quizplus · Accepted Answer

More sellers mean an increase in supply, which is drawn as a rightward shift of the supply curve. The equilibrium occurs at a lower price after the increase in supply.

In a Market Where Businesses Are Earning High Profits,new Entrants