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Answer to Question #207859 in Economics for Paballo
Question #207859
- If five (5) companies are supplying bolts and screws, and one company closes down, what will happen in the market for bolts and screws? A. The quantity supplied will decrease.
- B. The supply of bolts and screws will decrease.
- C. The demand for bolts and screws will increase.
- D. Nothing will happen, as the market is currently in equilibrium.
Expert's answer
B. The supply of bolts and screws will decrease.
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