When a firm repurchases shares, the supply of shares is ________, but at the same time, the value of the firm's assets ________.

Question

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When a firm repurchases shares, the supply of shares decreases, which reduces the number of outstanding shares in the market. However, at the same time, the value of the firm's assets doesn't change. As a result, the value per share increases, leading to an increase in the stock price.

When a Firm Repurchases Shares, the Supply of Shares Is