Suppose the Equilibrium Price in a Perfectly Competitive Industry Is

question 175

Multiple Choice

Suppose the equilibrium price in a perfectly competitive industry is $15 and a firm in the industry charges $21.Which of the following will happen?

• A)The firm's profits will increase.
• B)The firm's revenue will increase.
• C)The firm will not sell any output.
• D)The firm will sell more output than its competitors.

---

Definitions:

Major Depressive Disorder

A mental health condition characterized by persistent feelings of sadness, hopelessness, and loss of interest in activities, along with physical symptoms.

Anxiety Disorders

Mental health disorders characterized by significant feelings of anxiety and fear, impacting daily living and overall well-being.

Antisocial Personality Disorder

A mental health disorder characterized by a long-term pattern of disregard for, or violation of, the rights of others.

Client-centered Therapy

A psychotherapeutic approach developed by Carl Rogers focusing on providing a supportive environment where clients can explore their feelings without judgment.