Use This Graph to Answer the Question

question 159

Multiple Choice

Use this graph to answer the question.
-What month in 2009 had the highest sales?

• A)Month 12
• B)Month 5
• C)Month 2
• D)Month 3

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Definitions:

Consumer Demand

The desire of purchasers, consumers, clients, or users to buy goods and services measured over time.

Competitive Industry

An industry characterized by many buyers and sellers, such that no single market participant has significant influence over prices.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms are making neither excess profit nor losses, typically reached over time.

Decreasing-Cost Industry

An industry in which expansion through the entry of firms lowers the prices that firms in the industry must pay for resources and therefore decreases their production costs.