When Economic Profits Exist in the Market for a Particular

question 98

Multiple Choice

When economic profits exist in the market for a particular product,this is a signal to producers that

• A)Consumers would like more scarce resources devoted to the production of this product.
• B)The market is oversupplied with this product.
• C)The best mix of goods and services is being produced with society's scarce resources.
• D)Price is at the minimum of the ATC curve.

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Definitions:

Never-married

A term describing individuals who have never entered into a legal marriage.

Black Women

Refers to women of Sub-Saharan African descent or those who identify with the Black racial group of Africa.

Commitment

A state or quality of being dedicated to a cause, activity, or person.

Involuntary Stable Single

A person's state of being single not by choice but due to circumstances that make changing this status difficult.