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Homework answers / question archive / A decline in the number of firms that produce pianos will lead to: a
A decline in the number of firms that produce pianos will lead to:
a. a decrease in the quantity supplied of pianos
b. a rightward shift of the supply curve for pianos
c. a decrease in the quantity demanded of pianos
d. a leftward shift of the supply curve for pianos
If there is a decline in the number of firms that produce pianos, this means that there will be few firms in the industry producing pianos. As a result, the number of pianos produced in the market will reduce and this will shift the supply curve for pianos to the left.
