If competitive industry Z is making substantial economic profit, output will:
A. fall, product price will fall, and economic profit will disappear.
B. fall, product price will rise, and economic profit will disappear.
C. expand, product price will fall, and economic profit will disappear.
D. expand, product price will fall, and economic profit will rise.
Answer:C
If competitive industry Z is making substantial economic profit, output will:
A. fall, product price will fall, and economic profit will disappear. B. fall, product price will rise, and economic profit will disappear. C. expand, product price will fall, and economic profit will disappear. D. expand, product price will fall, and economic profit will rise.