If a Firm in a Perfectly Competitive Industry Is Experiencing

question 29

Multiple Choice

If a firm in a perfectly competitive industry is experiencing average revenues greater than average costs,in the long-run

• A)Some firms will leave the industry and price will rise
• B)Some firms will enter the industry and price will rise
• C)Some firms will leave the industry and price will fall
• D)Some firms will enter the industry and price will fall

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Definitions:

Pygmalion In The Classroom

Pygmalion in the Classroom is a theory suggesting that teachers' expectations of a student can significantly influence the student's performance, often resulting in a self-fulfilling prophecy.

Sociological Perspective

A way of looking at society and social behavior that involves questioning the obvious, seeking patterns, and looking beyond individual cases to social structures.

Education

The process of facilitating learning, or the acquisition of knowledge, skills, values, beliefs, and habits through various methods.

Social Stratification

The hierarchical arrangement of individuals or groups in society based on wealth, power, race, education, etc., affecting their access to resources and opportunities.