In the Short Run in Perfect Competition

question 24

Multiple Choice

In the short run in perfect competition,

• A)each firm can sell whatever quantity it wishes to sell at the market price
• B)the market demand curve cannot shift
• C)new firms will enter the market if existing firms are earning economic profits
• D)new firms will enter the market if existing firms are earning normal profits
• E)existing firms will exit the market if they are suffering losses

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Definitions:

MP3

A digital audio format widely used for storing music files and audio streaming, known for its compression capabilities.

Full Installation

The process of installing all the files and programs from the distribution media to the computer’s hard drive.

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Software designed to edit, modify, or manipulate video files, allowing for cutting, joining, and adding effects to video content.

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A presentation program developed by Microsoft, used for creating slide shows comprised of text, images, and other multimedia.