If a Price-Taking Firm That Belongs to an Industry in Long-Run

question 94

Multiple Choice

If a price-taking firm that belongs to an industry in long-run equilibrium discovers a significant cost-saving technology,then the

• A) firm will enjoy positive economic profit forever.
• B) rest of the industry will be forced to exit,resulting in a monopoly.
• C) firm will enjoy positive economic profit for a short period of time.
• D) rest of the industry will experience economic losses.
• E) rest of the industry will refuse to adopt the new technology.

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Definitions:

Protons in Dichloromethane

Refers to the hydrogen atoms present in the chemical compound dichloromethane, which is an organochloride solvent.

60 MHz

A frequency measurement often associated with the radio frequency range, but in the context of NMR, refers to the operating frequency of some lower field NMR spectrometers.

100 MHz

A frequency often associated with the operational frequency of certain NMR spectrometers, crucial for inducing transitions between nuclear spin states in proton NMR.

Electronegative Atoms

Atoms with a high ability to attract electrons towards themselves, which affects bond polarity and molecular structure.