If Firms in a Perfectly Competitive Market Are Making an Economic

question 3

Multiple Choice

If firms in a perfectly competitive market are making an economic profit,new firms will enter.This entry shifts the market

• A)demand curve leftward, and the market price falls.
• B)demand curve rightward, and the market price rises.
• C)supply curve leftward, and the market price rises.
• D)supply curve rightward, and the market price falls.
• E)none of the above.

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Definitions:

Organizational Goal

The strategic objectives that a business or institution aims to achieve within a specific timeframe, guiding its operations and direction.

Nongovernmental Organization

An independent organization not affiliated with any government, usually serving a social or environmental purpose.

Making Money

The process of earning a profit or revenue, typically through business activities, employment, or investments.

Nonprofit Organization

An entity that operates for a purpose other than to make profits for its owners, often focused on social, charitable, or community goals.