In Perfect Competition,as the Long Run Approaches,economic Profit Will Cause

question 149

Multiple Choice

In perfect competition,as the long run approaches,economic profit will cause

• A)the entry of new firms,shifting the market supply curve to the right
• B)the emergence of powerful monopolistic corporations
• C)inflation
• D)technological innovation
• E)government regulation

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Definitions:

Allergy

An immune system reaction to a foreign substance that is not typically harmful to the body.

Adhesive

A substance used for sticking objects or materials together; commonly referred to as glue.

Vacuum Tube

An electronic device used to control the flow of electricity in a vacuum, commonly used in early electronics such as radios and televisions.

Hematoma

A tumor or swelling that contains blood.