Figure 913 Figure 9

question 17

Multiple Choice

Figure 9.13 Figure 9.13 shows short-run cost and demand curves for a monopolistically competitive firm in the market for designer watches.
-Refer to Figure 9.13.If the diagram represents a typical firm in the designer watch market,what is likely to happen in the long run?

• A) Some firms will exit the market causing the demand to increase for firms remaining in the market.
• B) The firms that are incurring losses will be purchased by their more successful rivals.
• C) Inefficient firms will exit the market, and new cost efficient firms will enter the market.
• D) Firms will have to raise their prices to cover costs of production.

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Definitions:

Convert

To change data from one format or type to another, such as converting text to number or a file to a different file format.

Split

Split typically refers to dividing data, windows, or objects into separate parts or sections to enhance visibility, manageability, or functionality in software applications or data analysis.

Logical Table

An abstract representation of data organized in rows and columns, used in database and data warehouse design to logically separate data for ease of understanding and management.

Datasheet

A view in database applications that displays data in a table format, where fields are columns and records are rows.