As Long as Economic Profits Are Being Earned in an Industry

question 249

Multiple Choice

As long as economic profits are being earned in an industry, firms will ________ the industry and the supply curve will shift to the ________.

• A) enter; right
• B) enter; left
• C) exit; left
• D) exit; right

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Definitions:

Labor Protest

An organized public demonstration or action by workers to express grievances or demand changes in employment conditions, such as higher wages or safer working environments.

U.S.

The United States of America, a federal republic consisting of 50 states and a federal district, known for its influential role in world affairs and its diverse population and culture.

Industrial Cities

Industrial cities are urban areas that have undergone significant development due to the presence and growth of manufacturing and industry.

Seaport

a coastal town or city with facilities for loading and unloading ships, playing a critical role in international trade and travel.