In Perfect Competition,if Firms Enter the Market in the Long

question 54

Multiple Choice

In perfect competition,if firms enter the market in the long run

• A)total supply will increase causing market price to increase.
• B)total supply will decrease causing market price to decrease.
• C)total supply will decrease causing market price to increase.
• D)total supply will increase causing market price to decrease.

---

Definitions:

Ethnic Group Membership

The sense of belonging to a specific ethnic group, which shares common cultural, linguistic, or ancestral traits.

Emotional Support

Assistance provided to someone, often in the form of empathy, concern, affection, or encouragement, to help cope with emotional distress.

Biologists

Scientists who study living organisms and their relationship to the environment, covering various fields such as zoology, botany, ecology, and genetics.

Race

A social construct that categorizes people based on physical characteristics, such as skin color, which has significant societal implications and influences individuals' life experiences.