Multiple Choice
Figure 7.1
-In Figure 7.1, what would happen in the long run?
A) More producers would enter the market and the share of the market to this firm would fall until there was zero economic profit.
B) More producers would exit the market and the share of the market to this firm would fall until there was zero economic profit.
C) More producers would enter the market and the share of the market to this firm would rise until there was zero economic profit.
D) More producers would enter the market and the share of the market to this firm would fall until there was negative economic profit.
Correct Answer:
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