If the Short-Run Market Supply Curve and the Demand Curve

question 2

Multiple Choice

If the short-run market supply curve and the demand curve intersect above the long-run market supply curve,firms will experience ________ economic profits,meaning the price is ________ the minimum point on the average total cost curve.

• A) positive; above
• B) positive; below
• C) negative; above
• D) negative; below
• E) zero; above

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Definitions:

Qualified Individuals

Persons who possess the necessary skills, qualifications, or credentials to perform a specific job or task.

Industrial Psychology

The application of psychological principles and research methods to improve workplace behavior and productivity.

Organizational Psychology

The scientific study of human behavior in organizational settings, focusing on workplace dynamics and productivity.

Scientific Study

The systematic investigation and exploration of natural phenomena, typically involving experimentation and observation to gather evidence and establish facts.