(Figure: Unicycle Production Costs) If the Current Price Is $20

question 44

Multiple Choice

(Figure: Unicycle Production Costs) If the current price is $20 in this perfectly competitive industry, we should expect

• A) the presence of an economic profit to attract new firms to the industry.
• B) the presence of a normal profit to attract new firms to the industry.
• C) the presence of an economic loss to persuade some firms to leave the industry.
• D) that there will be no change in the number of firms in the industry.

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Definitions:

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