With No Barriers to Entry or Exit and When Firms

question 57

Multiple Choice

With no barriers to entry or exit and when firms in a market are operating at a loss,you can expect other firms to exit,causing the _________ curve to shift to the _________ and making the equilibrium price _________ and the equilibrium quantity _________.

• A) demand; right; increase; increase
• B) demand; left; decrease; decrease
• C) supply; right; decrease; increase
• D) supply; left; increase; increase
• E) supply; left; increase; decrease

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Definitions:

Void Method

A function in Java that does not return a value.

Action

In computing, specifically in GUI design, an action represents a functionality or operation that occurs usually in response to user input.

Precondition

A condition that must be true or satisfied before the execution of a procedure or operation to ensure its correctness and safety.

Postcondition

An assertion that specifies the state of computation after the execution of a function or a block of code.