What happens when new firms enter a competitive market

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Reference no: EM13825659

Questions-

1. Which of the following activities is not rent-seeking behavior?

A) lobbying government to protect a monopoly position

B) arguing for free trade among nations

C) extending patents

D) lobbying Congress for tariff protection to reduce foreign competition

2. When new firms enter a competitive market:

A) it will cause an increase in demand.

B) it will cause an increase in supply.

C) it will cause a decrease in demand.

D) it will cause a decrease in supply.

Additional Information-

These multiple choice questions are relates to Economics. The first question is about what is not rent-seeking behavior and the second question is about what happens when new firms enter a competitive market.

Reference no: EM13825659

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