In the Long Run, If New Fringe Firms with Same

question 5

Multiple Choice

In the long run, if new fringe firms with same cost structures as existing fringe firms enter the oligopoly market:

• A)the dominant firm's ability to extract profit from the market decreases.
• B)the fringe's ability to extract profit from the market decreases.
• C)the fringe supply curve rotates leftward and downward.
• D)the dominant firm's residual demand curve rotates rightward.

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Definitions:

Temperament

The innate aspect of an individual's personality, such as mood or behavior predispositions.

Social Identity

The “we” aspect of our self-concept; the part of our answer to “Who am I?” that comes from our group memberships.

Maturation Level

The state or process of reaching full development or potential, often discussed in the context of physical, emotional, or intellectual growth.

Secure Attachments

Emotional bonds characterized by a sense of safety, security, and trust, often discussed in the context of early child development.