Refer to the Graph Shown

question 94

Multiple Choice

Refer to the graph shown. Assuming that the industry operates under conditions of perfect competition:

• A)it is currently in equilibrium.
• B)new firms will soon enter the industry.
• C)existing firms will leave the industry.
• D)firms in the industry are earning zero economic profit.

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Definitions:

General Population

The total group of individuals or the mainstream society from which a statistical sample can be drawn.

Personality Disorder

A type of mental disorder marked by rigid and unhealthy patterns of thinking, functioning, and behaving.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, worry, and a tendency toward negative emotional states.

Extraversion

a personality trait that involves being outgoing, energetic, and sociable, and deriving energy from interactions with others.