In a Perfectly Competitive Market, Which of the Following Will

question 225

Multiple Choice

In a perfectly competitive market, which of the following will increase the economic profit the firms make in the short run?

• A) a decrease in market demand
• B) an increase in market demand
• C) an increase in labor costs
• D) an increase in the number of firms

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Definitions:

Relatedness-belonging Needs

The human psychological need to feel a sense of belonging and connectedness with others.

Academic Responsibilities

Duties and obligations associated with being a part of an academic environment, including attending classes, completing assignments, and maintaining academic integrity.

Relatedness

The feeling or state of being connected or related to others, often considered a fundamental human need.

Autonomy

The capacity to make an informed, uncoerced decision, often relating to personal freedom and self-determination.