Figure 9-17 the Graphs in Figure 9-17 Represent the Perfectly

question 65

Multiple Choice

Figure 9-17
The graphs in Figure 9-17 represent the perfectly competitive market demand and supply curves for the apple industry and demand and cost curves for a typical firm in the industry.
-Refer to Figure 9-17.The graphs depicts a short-run equilibrium.How will this differ from the long-run equilibrium? (Assume this is a constant-cost industry.)

• A) Fewer firms will be in the market in the long run than in the short run.
• B) The price will be higher in the long run than in the short run.
• C) The market supply curve will be further to the left in the long run than in the short run.
• D) The firm's profit will be lower in the long run than in the short run.

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A suffix used in medical terminology to denote a condition of the blood; for example, anemia (a lack of red blood cells).

Aneurysm

An abnormal bulge or ballooning in the wall of a blood vessel, potentially leading to rupture and hemorrhage.

Artery

A blood vessel that carries oxygen-rich blood away from the heart to the body's tissues and organs.

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A benign tumor made up of blood vessels, often appearing as a red or purple birthmark.