When a Firm in a Competitive Market Is Earning Profits

question 67

Multiple Choice

When a firm in a competitive market is earning profits, this indicates that the firm is

• A) exploiting consumers.
• B) increasing the value of resources.
• C) blocking the entry of competing firms.
• D) reducing overall wealth in the market.

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Definitions:

Greeting Method

A function or procedure in a program designed to display or send a welcome message.

First Name

A personal identifier typically given to someone at birth, used before the family name.

Modifier Private

A keyword in Java that restricts access to a member of a class (variables, methods) such that it can only be accessed within its own class.

Instance Variable

For each object instantiated from a class, this variable ensures they each have a unique copy, by being defined within the class.