Figure 9-18 -Refer to Figure 9-18.Given the Current Market Conditions,in the Long

question 187

Multiple Choice

Figure 9-18

-Refer to Figure 9-18.Given the current market conditions,in the long run,

• A)new firms will enter the industry and market price will fall.
• B)firms will exit the industry and market price will rise.
• C)firms will neither enter nor exit because the market is in long-run equilibrium.
• D)firms will maintain their current level of economic profit.

---

Definitions:

Physical Equipment

Tangible items or machinery used for specific purposes, especially in industries or organizations.

Computer System

A combination of hardware, software, and peripherals functioning together to process and manage data.

Microcomputers

Small, relatively inexpensive computers with a microprocessor as their central processing unit, designed for individual use.

Laptop Computers

Portable personal computers featuring an integrated screen and keyboard; designed for mobile use with versatility in function and design.