Economic profits in an industry suggests the industry:
A. can earn more profits by increasing product price.
B. should be larger to better satisfy consumer demand.
C. has excess production capacity.
D. is the size that consumers want it to be.
Answer:B
Economic profits in an industry suggests the industry:
A. can earn more profits by increasing product price. B. should be larger to better satisfy consumer demand. C. has excess production capacity. D. is the size that consumers want it to be.