1. complete the following sentences. when some firms exit a market in which firms incur economic losses, the market supply curve shifts and the market price
a. leftward; rises
b. rightward; falls
c. rightward; rises
d. leftward; falls
2. each remaining firm's economic loss
a. remains unchanged
b. increases
c. decreases

Leftward; Rises

Explanation:

When a firm exit a market, it negatively affects the total supply of commodities and the supply curve shifts leftwards. Likewise, a shortage is created, and because of the increase in demand and fewer supplies, market price rises. Price and supply have a negative relationship which means, a decrease in supply will increase the prices; it happens when a firm exit a market. Similarly, the economic profits of the remaining firm's increases due to a rise in prices.

answer(b) gdp is not affected by

scott's production of the jewelry box;