Economics: Principles, Problems, and Policies, 19th Edition

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

Chapter 3 - Demand, Supply, and Market Equilibrium - Questions - Page 66: 6b

Answer

A decline in number of firms in the tire industry would decrease the supply of tires.

Work Step by Step

The decline in number of firms in tire industry would reduce the number of producers so fewer tires would be produced, and the supply of tires would decline
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