-In the Above Figure, What Would Happen to the Monopolistically

question 45

Multiple Choice

-In the above figure, what would happen to the monopolistically competitive industry in the long run?

• A) More producers would enter the market, and the share of the market to this firm would fall, which would cause the demand curve to shift leftward until there is zero economic profit.
• B) More producers would exit the market, and the share of the market to this firm would fall, which would cause the demand curve to shift leftward until there is zero economic profit.
• C) More producers would enter the market, and the share of the market to this firm would rise, which would cause the demand curve to shift rightward until there is zero economic profit.
• D) More producers would enter the market, and the share of the market to this firm would fall, which would cause the demand curve to shift leftward until there is negative economic profit.

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Definitions:

DSM-5

The Diagnostic and Statistical Manual of Mental Disorders, Fifth Edition, a handbook used by healthcare professionals in the United States and much of the world as the authoritative guide to the diagnosis of mental disorders.

Mental Illness

A broad spectrum of psychological disorders that impact one's emotions, thought processes, and actions.

Classification System

A method used to organize or categorize information or objects, often using predefined criteria for sorting.

Psychopharmacology

The study of the use of medications in treating mental disorders, including the effects of drugs on mood, sensation, thinking, and behavior.