If Economic Profits Are Earned in a Monopolistically Competitive Market

question 41

Multiple Choice

If economic profits are earned in a monopolistically competitive market,

• A)More firms will enter the market.
• B)The market supply curve will shift to the left.
• C)Price will rise.

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Definitions:

Mechanical Isolation

A form of reproductive barrier where differences in the size and shape of reproductive organs prevent mating between species.

Sympatric Speciation

The evolution of a new species within the same geographic region as the parental species. Compare with allopatric speciation.

Experimental Hybrids

Organisms created through the crossbreeding of two different species or genetically distinct individuals in a controlled environment, often for research purposes.

Laboratory Conditions

Controlled environmental settings in which scientific or technological research, experiments, and measurement are performed.