Which of the Following Statements About Pure Competition in the Long

question 173

Multiple Choice

Which of the following statements about pure competition in the long run is not true?

• A) Entry and exit of firms will push economic profits of firms in the industry toward zero.
• B) Entry and exit of firms will shift the demand curve facing the representative firm in the industry.
• C) The long-run adjustment in pure competition happens through shifts in the industry supply curve.
• D) The long-run adjustment in pure competition happens through shifts in the industry demand curve.

Acquire knowledge on what personal data should and should not be included on a résumé while applying to U.S. companies.

Learn the correct structure and order for presenting jobs, educational background, and other credentials on a résumé.

Understand the importance of active voice and action verbs in creating engaging résumé content.

Recognize the value of including a wide range of experiences, such as unpaid community service, on a résumé.

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Definitions:

Internal Causes

Factors within an individual, such as traits, beliefs, or desires, that explain or influence their behavior.

Stable Causes

Factors or conditions that consistently contribute to an outcome or effect with little variation over time.

Actor-Observer Bias

A cognitive bias involving the tendency to attribute one's own actions to external factors while attributing others' actions to their personality or disposition.

Cognitive Dissonance

A psychological phenomenon that occurs when an individual experiences discomfort due to holding conflicting beliefs or values.