Figure 10-14 -Refer to Figure 10-14.In the Long Run,we Would Expect

question 58

Multiple Choice

Figure 10-14

-Refer to Figure 10-14.In the long run,we would expect

• A)more firms to enter this industry until zero economic profits are restored.
• B)firms to exit this industry until zero economic profits are restored.
• C)the number of firms to remain constant and existing firms will continue to suffer economic losses in the long run.
• D)the number of firms to remain constant and existing firms will continue to earn economic profits in the long run.

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Definitions:

Religious Toleration

The tolerance and endorsement of a variety of religious convictions and rituals without subjecting them to persecution.

Moral Liberty

The freedom to act in accordance with one's ethical beliefs and conscience, often discussed in philosophical and religious contexts.

Puritan

Members of a group of English Protestants in the 16th and 17th centuries who sought to "purify" the Church of England from its "Catholic" practices.

Puritan Leaders

Influential individuals within the Puritan community, who were part of a religious reform movement seeking to "purify" the Church of England in the 16th and 17th centuries.