Economy, asked by chouhanmonu251, 1 month ago

What happens when more and more firms enter an industry ?​

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Answered by ishitadoutqueen
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Answer:

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Explanation:

Answer: Entry of many new firms causes the market supply curve to shift to the right. As the supply curve shifts to the right, the market price starts decreasing, and with that, economic profits fall for new and existing firms.

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