Use the Following to Answer Questions

question 31

Multiple Choice

Use the following to answer questions :
-(Figure: Game-Day Shirts) Use Figure: Game-Day Shirts.Rick is one of the 10 vendors who sell Game-Day T-shirts at football games in a perfectly competitive market.His costs are identical to the costs of the other nine vendors.If the price of a shirt is $9,in the long run:

• A) new firms will enter the industry.
• B) existing firms will exit the industry.
• C) the industry is in equilibrium.
• D) the industry has minimized average total cost.

---

Definitions:

False Rib

Refers to the ribs that do not directly attach to the sternum but are connected to the true ribs above them.

Costal Cartilage

Flexible connective tissue that links the ribs to the sternum, facilitating the expansion and contraction of the chest cavity.

Sternum

The long, flat bone located in the center of the chest, to which the ribs are attached anteriorly, also known as the breastbone.

Curvatures

Bends or curves in a structure, organ, or path, which can vary in degree and can affect bodily functions or posture.