Suppose a Perfectly Competitive Market Is in Short-Run Equilibrium

question 2

Multiple Choice

Suppose a perfectly competitive market is in short-run equilibrium.Firms that are incurring a ________ economic loss ________.

• A) persistent; increase their output to increase their profit
• B) temporary; exit the industry
• C) temporary; decrease their production but definitely stay open
• D) persistent; exit the industry and shift the market supply curve leftward
• E) persistent; exit the industry and shift the market supply curve rightward

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Definitions:

Phenotype

The observable physical or biochemical characteristics of an organism, as determined by both genetic makeup and environmental influences.

Puberty

The developmental stage in humans and other primates marked by the onset of sexual maturity and other physiological changes.

Gender Identity

The degree to which a person feels male or female.

Born

Refers to the process of coming into life or existence; often used in the context of birth or the point at which an organism or entity begins its existence.