When Market Conditions in a Competitive Industry Are Such That

question 235

Multiple Choice

When market conditions in a competitive industry are such that firms cannot cover their total production costs, then

• A)the firms will suffer long-run economic losses.
• B)the firms will suffer short-run economic losses that will be exactly offset by long-run economic profits.
• C)some firms will exit the market, causing prices to rise until the remaining firms can cover their total production costs.
• D)all firms will go out of business, since consumers will not pay prices that enable firms to cover their total production costs.

---

Definitions:

Three-Dimensional

Describing an object or space that has height, width, and depth, giving it a sense of volume.

Digital Subtraction Angiography

A medical imaging technique used in radiology for visualizing blood vessels by subtracting a 'pre-contrast image' or the mask from subsequent images, once the contrast medium has been introduced into a structure.

Dynamic Spatial Reconstruction

An advanced imaging technique that allows for three-dimensional visualization of anatomical structures in motion.

Magnetic Resonance Imaging

A medical imaging technique used to visualize internal structures of the body in detail using strong magnetic fields and radio waves.