Refer to the graph shown. Assuming that the industry operates under conditions of perfect competition:
A) it is currently in equilibrium.
B) new firms will soon enter the industry.
C) existing firms will leave the industry.
D) firms in the industry are earning zero economic profit.

Question

Refer to the graph shown. Assuming that the industry operates under conditions of perfect competition: 
A) it is currently in equilibrium. 
B) new firms will soon enter the industry. 
C) existing firms will leave the industry. 
D) firms in the industry are earning zero economic profit.

Quizplus · Accepted Answer

The Answer of Refer to the graph shown. Assuming that the industry operates under conditions of perfect competition: 
A) it is currently in equilibrium. 
B) new firms will soon enter the industry. 
C) existing firms will leave the industry. 
D) firms in the industry are earning zero economic profit.

Refer to the Graph Shown