If There Is an Increase in Industry Supply While the Industry

question 61

Multiple Choice

If there is an increase in industry supply while the industry demand remains the same, then an individual firm in a perfectly competitive industry currently earning negative profits will see its profits

• A) increase.
• B) not change.
• C) decrease further.
• D) impossible to determine

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Definitions:

General Population

The total number of individuals or inhabitants in a specified area or community, without excluding any subgroups.

Drug

Any chemical substance that affects the structure or function of the body, used for medicinal purposes to diagnose, cure, treat, or prevent disease.

Transdermal Patches

Medication delivery systems that release drugs through the skin directly into the bloodstream for systemic treatment.

Adhesive

A substance used for sticking objects or materials together; glue.