Figure: Profit Maximization 6 at Any Price Above $60

question 22

Multiple Choice

Figure: Profit Maximization 6 At any price above $60 in this diagram, firms already in this market will be making an economic:

• A) profit (P > A
• C), causing other firms to enter the industry in the long run.
• B) loss (P < A
• C) and will exit the industry in the short run.
• C) profit (P > A
• C), causing other firms to enter the industry in the short run.
• D) loss (P < A
• C) and will exit the industry in the long run.

---

Definitions:

Interest Group

An organization of people who share common goals and unite to influence public policy and opinion.

Federal Executive Agency

An administrative agency of the federal government of the United States, acting under the direct authority of the President or the U.S. cabinet.

National Science Foundation

A federal agency in the United States that supports fundamental research and education in all the non-medical fields of science and engineering.

Equal Employment Opportunity Commission

A U.S. federal agency responsible for enforcing federal laws that make it illegal to discriminate against a job applicant or an employee because of the person's race, color, religion, sex, national origin, age, disability, or genetic information.