When Profit-Maximizing Firms in Competitive Markets Are Earning Profits

question 166

Multiple Choice

When profit-maximizing firms in competitive markets are earning profits,

• A)market demand must exceed market supply at the market equilibrium price.
• B)market supply must exceed market demand at the market equilibrium price.
• C)new firms will enter the market.
• D)the most inefficient firms will be encouraged to leave the market.

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