Anything that keeps new firms from entering an industry in which firms are earning economic profits.

__________: Is a loss in value within a structure due to changes in tastes, preferences, technical innovations, or market standards.

Fill in the blank(s) with the appropriate word(s).

During the mid-2000s, the average price of a used car fell by nearly $500 and the quantity sold nation-wide decreased by several thousands each year. This set of results is a contradiction of the law of demand

Indicate whether the statement is true or false