When Profit-Maximizing Firms in Competitive Markets Are Earning Profits

question 166

Multiple Choice

When profit-maximizing firms in competitive markets are earning profits,

• A)market demand must exceed market supply at the market equilibrium price.
• B)market supply must exceed market demand at the market equilibrium price.
• C)new firms will enter the market.
• D)the most inefficient firms will be encouraged to leave the market.

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Definitions:

Balloon Angioplasty

A medical procedure to open narrowed or blocked blood vessels of the heart using a balloon catheter.

Thrombolysis

The breakdown of blood clots by pharmacological means, often used in treating certain types of strokes and heart attacks.

Tomography

A diagnostic imaging technique that creates detailed cross-sectional images of internal organs or tissues.

Combining Form

A linguistic unit that occurs in combination with another form to create a word with a new meaning.