If a Competitive Industry Is Neither Expanding nor Contracting, We

question 287

Multiple Choice

If a competitive industry is neither expanding nor contracting, we would expect

• A)total revenue to be zero.
• B)economic profits to be zero.
• C)total opportunity cost to be zero.
• D)more resources to flow to that industry.

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Definitions:

Pesticide Spraying

Pesticide spraying is the application of chemicals to crops, buildings, or landscapes to control pests such as insects, weeds, and disease agents.

Transgenic Crops

Plants that have been genetically modified to express a gene from another species, improving traits like resistance to pests or herbicides.

Pest-Resistant

Attribute of a plant or organism that has a natural or genetically engineered resistance to damage by pests.

Nontarget Pests

Species inadvertently affected by pesticides or other control measures meant for specific pests, often leading to ecological imbalances.