If Perfectly Competitive Firms Are Making an Economic Profit,then

question 265

Multiple Choice

If perfectly competitive firms are making an economic profit,then

• A) the market is in its long-run equilibrium.
• B) new firms enter the market and the equilibrium profit of the firms already in the market decreases.
• C) new firms enter the market and the equilibrium profit of the firms already in the market increases.
• D) firms exit the market and the economic profit of the surviving firms in the market decreases.
• E) firms exit the market and the economic profit of the surviving firms in the market increases.

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Definitions:

Client-Centered

A therapeutic approach focusing on providing a supportive environment where clients lead the process of their healing or development.

Existential Therapist

A mental health professional who uses existential therapy, focusing on free will, self-determination, and the search for meaning.

Free Will

The concept that individuals have the ability to make choices that are not predetermined by past events or natural laws.

Inescapable Realities

Situations or facts of life that cannot be avoided or changed, often requiring acceptance and adaptation.