Figure 14-4 -Refer to Figure 14-4.In the Short Run,if the Market Price

question 171

Multiple Choice

Figure 14-4
-Refer to Figure 14-4.In the short run,if the market price is P4,individual firms in a competitive industry will earn

• A) positive profits.
• B) zero profits.
• C) losses but will remain in business.
• D) losses and will shut down.

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Definitions:

Bronchioles

Small passages in the lungs through which air passes, the last parts of the respiratory tract air reaches before the alveoli.

Inhalation

The act of breathing in, where air enters the lungs, allowing oxygen to be absorbed into the bloodstream.

Pharynx

The muscular tube that connects the mouth and nasal passages to the esophagus and larynx, serving both the respiratory and digestive systems.

Trachea

Principal thoracic air duct of terrestrial vertebrates; windpipe. One of the microscopic air ducts (or tracheal tubes) branching throughout the body of most terrestrial arthropods and some terrestrial mollusks.