Which of the following statements is correct? O D. Normal profits O A. Economic profits induce firms to leave an industry; profits encourage firms to O B. Economic profits induce firms to enter an industry; losses encourage firms to OC. Economic profits and losses have no significant impact on the growth or decline of an industry will cause an industry to expand leave leave
Which of the following statements is correct? O D. Normal profits O A. Economic profits induce firms to leave an industry; profits encourage firms to O B. Economic profits induce firms to enter an industry; losses encourage firms to OC. Economic profits and losses have no significant impact on the growth or decline of an industry will cause an industry to expand leave leave
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![QUESTION 11
Which of the following statements is correct?
O A. Economic profits induce firms to leave
O D. Normal profits
OC. Economic profits and losses have no
significant impact on the growth or
decline of an industry
O B. Economic profits induce firms to enter
an industry; profits encourage firms to
an industry; losses encourage firms to
will cause an
leave
leave
industry to
expand](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5a716bb7-1636-487c-b369-6f31d5fcc89e%2F1d71fd79-ac37-4331-ab8e-aba10ac156df%2Fpgi19et_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 11
Which of the following statements is correct?
O A. Economic profits induce firms to leave
O D. Normal profits
OC. Economic profits and losses have no
significant impact on the growth or
decline of an industry
O B. Economic profits induce firms to enter
an industry; profits encourage firms to
an industry; losses encourage firms to
will cause an
leave
leave
industry to
expand
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