Suppose That Some Firms in a Perfectly Competitive Industry Are

question 200

Multiple Choice

Suppose that some firms in a perfectly competitive industry are earning positive economic profits.In the long run,the:

• A)industry is in equilibrium.
• B)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:

Structuralism

A theory in psychology that emphasizes analyzing the basic elements of consciousness to understand the mind's structure.

Behaviorism

A theory in psychology that asserts behavior can be understood and studied through observable actions without considering mental states or consciousness.

Psychological Disorders

Patterns of behavioral, cognitive, emotional, or physical symptoms that lead to distress, disability, or impaired functioning.

Functionalism

A perspective in psychology that focuses on the purpose and adaptive functions of human thoughts, feelings, and behaviors.