Economic Profits Disappear When

question 30

Multiple Choice

Economic profits disappear when:

• A) Price is greater than marginal costs.
• B) Price falls to the level of minimum average total cost.
• C) Price is greater than average variable cost.
• D) Firms exit an industry.

---

Definitions:

Neurosis

A class of functional mental disorders involving chronic distress but neither delusions nor hallucinations.

Depersonalization

A psychological condition wherein individuals feel detached from themselves and their surroundings, as if they are observing their life from an external viewpoint.

Derealization

A mental state where the outside world feels unreal or distant, often accompanying dissociative disorders.

Dissociative Amnesia

A psychological disorder characterized by memory loss that can't be explained by normal forgetfulness, often triggered by trauma or stress.