67. If economic profits in a particular industry increase, then we would expect: 68. In a market system, resources will move away from an industry when: 69. "Creative destruction" in a market system is brought by: 70. An increase in the demand for a product and a reduction in its costs of production would: 71. In a market system, as one industry expands another contracts, resources will flow: 72. The market system communicates changes in market conditions and elicits appropriate responses from businesses and resource suppliers through changes in prices. This is known as the:
67. If economic profits in a particular industry increase, then we would expect: 68. In a market system, resources will move away from an industry when: 69. "Creative destruction" in a market system is brought by: 70. An increase in the demand for a product and a reduction in its costs of production would: 71. In a market system, as one industry expands another contracts, resources will flow: 72. The market system communicates changes in market conditions and elicits appropriate responses from businesses and resource suppliers through changes in prices. This is known as the:
Test-Bank-Microeconomics-20th-Edition-McConnell.docx