Use the Following to Answer Question

question 176

Multiple Choice

Use the following to answer question:
Figure: The Market for Gas Stations
-(Figure: The Market for Gas Stations) Use Figure: The Market for Gas Stations.The figure shows curves facing a typical gas station in a large town.The market is characterized by many firms,differentiated products,easy entry,and easy exit.If the gas station here is typical,prices charged by firms in the market are likely to:

• A)fall in the long run.
• B)rise in the long run.
• C)remain unchanged.
• D)rise dramatically in the long run.

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Definitions:

Battery

A criminal offense involving the unlawful physical acting upon a threat, distinct from assault which is the act of creating apprehension of such contact.

Plaintiff

The party who initiates a lawsuit by filing a complaint against the defendant, seeking legal remedy for a grievance.

Contact

A point at which two or more things come together, or a means of communication or interaction between people or organizations.

Defamation

The act of damaging someone's reputation by making false or harmful statements.