An Industry Is in ________ If Firms Have No Incentive

question 204

Multiple Choice

An industry is in ________ if firms have no incentive to enter or exit in the ________ run.

• A) disequilibrium; short
• B) disequilibrium; long
• C) equilibrium; short
• D) equilibrium; long

---

Definitions:

Grammatical Rules

The set of structural guidelines governing the composition of clauses, phrases, and words in any given natural language.

Overregularizing

The process in which children apply general grammatical rules too widely, often leading to grammatical errors.

Overextending

The act of committing oneself beyond what is manageable or financially comfortable.

Syntax

the set of rules, principles, and processes that govern the structure of sentences in a given language, specifically the arrangement of words and phrases to create meaningful sentences.