Answer the Question on the Basis of the Following Demand

question 250

Multiple Choice

Answer the question on the basis of the following demand and cost data for a specific firm. Suppose that entry into the industry changes this firm's demand schedule from columns (1) and (3) to columns (2) and (3) . Economic profit will

• A)fall by $11.50.
• B)fall to $8.
• C)increase by $15.
• D)decline to zero.

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