A Permanent Decrease in Demand for Convenience Store Services Is

question 149

Multiple Choice

A permanent decrease in demand for convenience store services is likely to cause which of the following in the long run?

• A)an economic loss for each firm
• B)a higher price for each firm's output
• C)fewer firms in the industry
• D)more firms in the industry
• E)economic profit for each firm

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Definitions:

Explanation

The process of making something clear or easy to understand by describing or giving details about it.

Electrical Wiring

A system of conductors and devices that transport electrical power or signals.

Explanation

A statement or account that makes something clear by describing the relevant structure, mechanism, or reasons.

Argument

A sequence of statements or reasoning aimed to demonstrate a position as true or logically sound.