If a Perfectly Competitive Market Is in a Short- Run

question 18

Multiple Choice

If a perfectly competitive market is in a short- run equilibrium and each firm has P > SRATC,then

• A)new firms will enter the market because existing firms are earning economic profits.
• B)price will fall in the short run as it is too high and firms are making economic profits.
• C)individual firms in the industry will increase their output.
• D)the market supply curve will become less elastic.
• E)existing firms will continue to earn economic profits in the long run.

Identify and differentiate between various types of crowds and collective behavior.

Recognize the factors influencing the success and dynamics of social movements, including the role of resources, technology, and organizational structures.

Analyze the impact of social movements on policy and social change.

Identify stages in the process of social change and the influence of technology and media.

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Definitions:

Effective Branding

The process of developing a distinctive and memorable brand identity that positively influences the perception and loyalty of customers.

Symbolic Aspects

Elements of something that represent or signify deeper meanings, values, or concepts beyond their literal appearance.

Telephone Hotlines

Dedicated phone lines providing information, support, or emergency services to callers, often available 24/7.

Horizontal Communication

Refers to the exchange of information, ideas, or feedback between individuals or departments on the same level within an organization.