Which of the Following Would Be Most Likely If Firms

question 129

Multiple Choice

Which of the following would be most likely if firms in a competitive price-searcher market were earning economic profit?

• A) Production inefficiencies would persist until the profit was eliminated.
• B) Firms would decrease their rate of output in the short run, causing a decline in profitability in the market.
• C) New firms would enter the market, resulting in fewer sales by existing firms.
• D) All firms in the market would continue to produce at their current levels and continue to charge the same price.

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Definitions:

Messenger RNA

A molecule that carries genetic information from DNA to the ribosome, where it directs protein synthesis.

RNA Polymerases

Enzymes that are responsible for transcribing RNA from a DNA template, playing a key role in the process of gene expression.

Transcription

The process by which the genetic information in DNA is copied into messenger RNA (mRNA) for protein synthesis.

tRNA Triplet

A sequence of three nucleotides in transfer RNA that is complementary to a specific messenger RNA codon during protein synthesis.