In Pure Competition, If the Market Price of the Product

question 188

Multiple Choice

In pure competition, if the market price of the product is higher than the minimum average total cost of the firms, then

• A)some firms will exit the industry and the industry supply will decrease.
• B)other firms will enter the industry and the industry supply will increase.
• C)some firms will exit the industry and the industry supply will increase.
• D)other firms will enter the industry and the industry supply will decrease.

---

Definitions:

Children's Behavior

The range of actions and mannerisms exhibited by children in response to their environment, developmental stage, and socio-cultural influences.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing behaviors, thoughts, and feelings.

Middle-class Family

A social group characterized by moderate income levels, often linked with stable employment, education, and the ability to afford comfortable living standards.

Authoritarian

Relating to or advocating a governmental system characterized by strong central power and limited political freedoms.