Refer to the Information Provided in Figure 12

question 146

Multiple Choice

Refer to the information provided in Figure 12.4 below to answer the question(s) that follow. Figure 12.4
There are two sectors in the economy, X and Y, and both are in long-run, zero-profit equilibrium at the intersections of S^{0 and D0.}
-Refer to Figure 12.4. Assume consumer preference changes toward X and away from Y. Ceteris paribus, sector X will likely see ________ and sector Y will likely see ________.

• A) the entrance of new firms; the exit of existing firms
• B) the exit of existing firms; the entrance of new firms
• C) the entrance of new firms; no entry or exit of firms
• D) no entry or exit of firms; the exit of existing firms

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Definitions:

Support

Providing assistance or encouragement, often in emotional, social, or practical forms, to someone in need.

Malignant Hyperthermia

A severe reaction to certain anesthesia drugs, which is life-threatening and causes a rapid increase in body temperature and severe muscle contractions.

Anesthetic Agents

Substances used to induce anesthesia, typically causing a temporary loss of sensation or awareness.

Puncture-resistant Container

A type of secure container designed to safely dispose of needles, scalpels, and other sharp medical instruments.