Shifts the market supply curve, economics, Microeconomics

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This firm will maximize profits by producing the level of output that corresponds to point:

a. b. c. or d. ??

Refer to Figure for a perfectly competitive firm. Given the current market price of $100, we expect to see:

1. entry into this industry

2. exit from this industry

3. costs rise to absorb the profits earned by firms in the industry

4. no change in the number of firms in the industry

The exit of firms from a market, ceteris paribus:

1. has no effect on economic losses of firms remaining in the market

2. increases the equilibrium price in the market

3. shifts the market supply curve to the right

4. shifts the market demand curve to the left

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