If There Is an Increase in Market Demand in a Perfectly

question 210

Multiple Choice

If there is an increase in market demand in a perfectly competitive market, then in the short run

• A)there will be no change in the demand curves faced by individual firms in the market.
• B)the demand curves for firms will shift downward.
• C)the demand curves for firms will become more elastic.
• D)profits will rise.

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Definitions:

Long-Term Memories

Memories that can last from days to decades, encompassing everything from childhood events to academic knowledge.

Locus Of Causality

Attribution of behavior to either an aspect of the actor (internal) or to some aspect of the situation (external).

Stability

The condition of being resistant to change and not easily upset or disturbed.

Internality

The belief in one's ability to control events and outcomes in their own life, often associated with a proactive mindset.