Use the Figure Below to Answer the Following Questions

question 25

Multiple Choice

Use the figure below to answer the following questions.

Figure 12.4.3
-Refer to Figure 12.4.3, which shows the cost curves and marginal revenue curve of a firm in a perfectly competitive market. In the long run,

• A)firms that remain in the market will expand production.
• B)market demand will increase.
• C)firms will adopt labour-saving technology.
• D)industry output will remain constant.
• E)firms will enter the market.

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Definitions:

Mutually Beneficial Relationships

Relationships that provide benefits to all parties involved, fostering positive outcomes and cooperation between individuals or entities.

Internal Management

The process of overseeing and guiding a company's operations, strategies, and employees from within the organization.

Travel Insurance

Coverage designed to protect travelers against unforeseen expenses, such as medical emergencies, trip cancellations, and lost luggage.

Ethical and Successful

Describes actions or practices that are both morally right and lead to positive outcomes or success.