Suppose That Some Firms in a Perfectly Competitive Industry Earn

question 60

Multiple Choice

Suppose that some firms in a perfectly competitive industry earn negative economic profits. In the long run, the:

• A) short-run industry supply curve will not shift.
• B) short-run industry supply curve will shift to the left.
• C) number of firms in the industry will not change.
• D) number of firms in the industry will increase.

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Definitions:

Dream Content

The themes, narratives, images, and emotions that make up a dream, often subject to interpretation in terms of underlying psychology.

REM Rebound

The phenomenon where a person experiences increased REM sleep after being deprived of REM sleep for a period.

Narcolepsy

A chronic sleep disorder characterized by overwhelming daytime drowsiness and sudden attacks of sleep, often associated with cataplexy and other REM sleep disturbances.

Psychologically Meaningless

Refers to information or stimuli that hold no significant value or relevance to one's mental processes or emotional state.