The Iodization of Salt _____

question 22

Multiple Choice

The iodization of salt _____.

• A) began in the United States in the 1880s 
• B) has helped eradicate most cases of cretinism in the United States 
• C) is mandatory in the United States 
• D) is available to only about 10 percent of households in developing countries 
• E) has no benefit except for children

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Definitions:

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain exceeding the opportunity costs.

Exit Of Firms

The process when businesses stop operations and leave a market, often due to unprofitability or strategic realignment.

Market Entry

The process or strategy by which a company enters a new market, facing and overcoming barriers to entry.

Market Price

the current price at which a good or service can be bought or sold, determined by supply and demand forces in the market.