The Free Entry and Exit of Firms in a Competitive

question 8

Multiple Choice

The free entry and exit of firms in a competitive price-searcher market guarantees that

• A) both economic profits and economic losses can persist in the long run.
• B) both economic profits and economic losses disappear in the long run.
• C) economic profits, but not economic losses, can persist in the long run.
• D) economic losses, but not economic profits, can persist in the long run.

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Definitions:

Intercostal Retractions

The inward movement of the spaces between the ribs during inspiration, a sign of respiratory distress indicating increased effort to breathe.

Expiratory Wheezes

High-pitched sounds heard with a stethoscope during exhalation, indicating airflow obstruction in the airways.

Tachypnea

Rapid breathing, which can be a sign of various conditions, including respiratory infections, congestive heart failure, or acidosis.

Pulmonary Embolism

A potentially life-threatening condition where one or more arteries in the lungs become blocked by a blood clot.