If All Firms in the Industry Have Similar Demand,marginal Revenue,and

question 162

Multiple Choice

If all firms in the industry have similar demand,marginal revenue,and cost curves as the firm in the figure above,in the long run

• A) nothing changes.
• B) some firms exit the industry, and the economic losses of the remaining firms decrease.
• C) some firms exit the industry, and the economic profits of the remaining firms increase.
• D) new firms enter the industry, and the economic losses of the original firms decrease.
• E) new firms enter the industry, and the economic profits of the original firms increase.

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Definitions:

Interference

Interference refers to the process by which the presence or action of one thing impedes or prevents the effectiveness of another, often used in the context of memory, waves, or signals.

Retrieval Cues

External or internal stimuli that help in accessing memories, making it easier to recall information.

Recovered Memories

Memories of traumatic events that were not remembered for a long period, possibly due to psychological repression, and are later recalled.

Repressed Memories

Memories that have been unconsciously blocked due to the memory being associated with a high level of stress or trauma.