If Firms in a Competitive Market Are ________ Then There

question 336

Multiple Choice

If firms in a competitive market are ________ then there is ________ for firms to ________ the industry.

• A) incurring economic losses; an incentive; exit
• B) incurring economic losses; no incentive; exit
• C) making economic profits; no incentive; enter
• D) making zero economic profit; an incentive; exit

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Definitions:

Biogeochemical Cycle

A nutrient moves among environmental reservoirs and into and out of food webs.

Earth's Sediments

Particles of organic or inorganic material that have been transported and deposited by wind, water, or ice, forming layers on the Earth's surface.

Biological Components

Essential elements, structures, or molecules that are part of or necessary for the living organisms' life cycles and processes.

Phosphorus

A chemical element, essential for life, involved in many cellular processes, including energy transfer and the structure of DNA and RNA.