Asked by ashley alvarez on Jul 21, 2024
Verified
When personal computers became popular,several new firms entered the competition.What effect did this have on supply?
A) Increase in the quantity supplied
B) Decrease in the quantity supplied
C) Shift of the supply curve to the left
D) Shift of the supply curve to the right
E) Shift of both demand and quantity demanded
Supply Curve
A graph that represents the relationship between the price of a good or service and the quantity of it that suppliers are willing to produce at various prices.
Personal Computers
Electronic devices designed for individual use, capable of executing a set of instructions and processing data.
- Ascertain the influence of forecasted trends and supplier counts on market supply dynamics.
Verified Answer
AM
Alyssa MilesJul 22, 2024
Final Answer :
D
Explanation :
The entry of new firms into the competition would increase the number of suppliers in the market, shifting the supply curve to the right. This would result in an increase in the quantity supplied, bringing down the market price of personal computers.
Learning Objectives
- Ascertain the influence of forecasted trends and supplier counts on market supply dynamics.