Use the Figure Below to Answer the Following Questions

question 7

Multiple Choice

Use the figure below to answer the following questions.

Figure 14.2.4
-Refer to Figure 14.2.4. The figure represents a monopolistically competitive firm in short-run equilibrium. In the long run,

• A)new firms enter, and each existing firm's demand curve shifts leftward.
• B)new firms enter, and each existing firm's demand curve shifts rightward.
• C)existing firms exit, and each remaining firm's demand curve shifts leftward.
• D)existing firms exit, and each remaining firm's demand curve shifts rightward.
• E)the equilibrium is the same as in the short run.

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Definitions:

Macule

A flat, distinct, discolored area of skin less than 1 centimeter wide that does not involve any change in the thickness or texture of the skin.

Melanoma

A type of cancer that develops in the pigment-producing cells known as melanocytes, often manifesting as a mole with an irregular shape, size, or color.

Color Varies

Indicates that the color of an object or substance can change under different conditions or in different instances.

Ordinary Mole

A small, often dark, benign growth on the skin arising from nevus cells that are usually harmless.