Refer to the Information Provided in Figure 9

question 102

Multiple Choice

Refer to the information provided in Figure 9.4 below to answer the question that follows. Figure 9.4
-Refer to Figure 9.4. From the diagram, existing firms in this industry make ________ economic profits, and as long as this continues, ________.

• A) negative; new firms will not enter it and existing firms will leave it.
• B) zero; new firms will not enter it and existing firms will not leave it either.
• C) positive; new firms will enter the industry and existing firms will not leave it.
• D) positive; the industry supply curve will shift to the left.

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Definitions:

Variance

A measure of the spread or dispersion of a set of data points around the mean, indicating how much the data values differ from the average value.

Probability Distribution

A mathematical function that provides the probabilities of occurrence of different possible outcomes for an experiment.

Salesperson

A salesperson is an individual who performs sales, engaging in the selling of goods or services to customers.

Probability Distribution

A mathematical tool used to figure out how likely different potential results are in an experiment.