If Economic Profits Are Earned in a Monopolistically Competitive Market

question 13

Multiple Choice

If economic profits are earned in a monopolistically competitive market,

• A)More firms will enter the market.
• B)The market supply curve will shift to the left.
• C)Price will rise.
• D)The market demand curve will shift to the right.

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Definitions:

Wound

An injury to living tissue, especially an injury involving a cut or break in the skin.

Living Tissue

Biological tissue consisting of living cells and the materials surrounding them, functioning as part of an organism.

Injury

Physical harm or damage to the body caused by external force or substance.

Emergency Medical Services

Health care services provided in response to an urgent medical condition, involving immediate assessment, treatment, and transport of patients.