Assume There Is an Increase in Demand in a Perfectly

question 72

Multiple Choice

Assume there is an increase in demand in a perfectly competitive market that was initially in long-run equilibrium.Which of the following statements is false?

• A)Consumers have shown that they now consider the good to be more valuable.
• B)In the short run, profits will be lower than normal.
• C)Resources from other industries will be attracted into the market.
• D)Over time, the market supply curve will shift right.

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Definitions:

Breast

A complex tissue comprising mammary glands, fat, and connective tissue, functioning in milk production for offspring nourishment in mammalian females.

Hypothalamus

In vertebrates, part of the brain that helps regulate the internal environment of the body—for example, heart rate, body temperature, and water balance.

Estrogen

Female sex hormone that helps maintain sexual organs and secondary sex characteristics.

Cross-Linked Proteins

Proteins whose amino acid side chains form covalent bonds with each other, stabilizing their structure and affecting their properties.