Question

When ________, a typical firm will supply a higher quantity at any given price for its output, and the supply curve will shift to the right.a) there is a population increaseb) increased competition due to a greater number of producers will causec) costs of production falld) price rise

Answer 1

Answer:

monopolistic competition

Explanation:

An increase in competition, decreases the firms share of market and hence qty supplied will fall and will lead dis-economies of scale.

This will lead to the price increase.

An increase in population, would lead to higher qty demanded, given share of the firm and competition, production costs will fall.