In the Long Run When a Perfectly Competitive Firm Experiences

question 372

Multiple Choice

In the long run when a perfectly competitive firm experiences positive economic profits

• A) firms exit the industry, the market supply curve shifts rightward, and the market price falls.
• B) firms enter the industry, the market supply curve shifts rightward, and the market price falls.
• C) firms exit the industry, the market supply curve shifts leftward, and the market price rises.
• D) firms enter the industry, the market supply curve shifts rightward, and the market price rises.

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Definitions:

Magnetic Flux Density

Magnetic flux density is a measure of the strength and direction of a magnetic field at a particular point, expressed in teslas (T), indicating how dense the field lines are in that area.

Induced Voltage

A voltage generated in a conductor due to its motion in a magnetic field or due to a changing magnetic field around it.

Ampere-turns

A unit of magnetomotive force represented by the product of current (in amperes) and the number of turns in a coil, influencing the strength of the magnetic field generated.

Electro-magnetic Field

A physical field produced by electrically charged objects affecting the behavior of charged objects in its vicinity.