Curly Usually Drives on the Freeway to Get to Work,but

question 90

Multiple Choice

Curly usually drives on the freeway to get to work,but this morning he heard on the radio that there was a major accident causing a long traffic back-up at the first downtown exit.So,Curly decided to drive on side streets to get to work.When Curly started driving he noticed that:

• A)more people than usual were taking the side streets downtown.
• B)the side streets were about as crowded as they usually are.
• C)fewer drivers were using the side streets than usual.
• D)more people were getting on the freeway than usual.

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Definitions:

Accounting Profits

The financial gain calculated by subtracting total explicit costs from total revenue, according to standard accounting practices.

Industry Expansion

The growth in production, workforce, or market share within a specific sector of the economy.

Constant-cost Industry

An industry in which the costs of production or the prices of inputs do not change as the industry expands or contracts.

Entry or Exit

The process of a firm beginning operations in a market (entry) or leaving a market (exit), influenced by factors like profitability and barriers to entry.