Suppose the Equilibrium Price in a Perfectly Competitive Industry Is

question 233

Multiple Choice

Suppose the equilibrium price in a perfectly competitive industry is $10 and a firm in the industry charges $12.Which of the following will happen?

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

---

Definitions:

Colors

Visual properties perceived by the eyes and brain, often used to distinguish objects, convey messages, or evoke emotional responses.

Global Rainfall

The distribution and intensity of precipitation received across different regions of the world.

Dynamic Display

A dynamic display is an electronic visual display that can change its content and/or how the content is presented, often used in digital signage, computers, and televisions.

Truncated Scales

Measurement tools or rating systems that have been shortened or condensed to remove extreme values or to simplify the evaluation process.