Solved

The Potato Market Is Perfectly Competitive

Question 92

Multiple Choice

The potato market is perfectly competitive. Research is published claiming that eating potatoes leads to gaining weight and so the demand for potatoes permanently decreases. The permanent decrease in demand results in a


A) higher price, economic profits for potato farmers, and entry into the market.
B) lower price, economic profits for potato farmers, and entry into the market.
C) lower price, economic losses by potato farmers, and exit from the market.
D) higher price, economic losses by potato farmers, and exit from the market.
E) lower price, economic losses by potato farmers, and entry into the market.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents