If There Is an Increase in Industry Supply While the Industry

question 334

Multiple Choice

If there is an increase in industry supply while the industry demand curve remains the same, then an individual firm in a perfectly competitive industry currently earning positive profits will see its profits

• A) increase.
• B) not change.
• C) decrease.
• D) impossible to determine

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Definitions:

Germination

Resumption of growth of an embryo or spore; occurs when a seed or spore sprouts

Monocot

A group of flowering plants characterized by having one cotyledon (seed leaf), parallel leaf veins, and flower parts usually in multiples of three.

Eudicot

A significant classification of bloom-bearing plants known for possessing dual seed leaves, referred to as cotyledons, during the sprouting process.

Apomixis

Apomixis is a form of asexual reproduction that allows plants to produce seeds without fertilization, leading to offspring genetically identical to the parent.