In a Dutch auction, the higher the bid, the ________ the surplus and the ________ chance of winning

Members of IGA are advised by that organization to

A. hire less-qualified people to keep costs down. B. provide a level of service, community involvement, and types of goods Walmart does not. C. "out Walmart" Walmart by lowering prices. D. sell exactly the same goods Walmart does.

If all firms in a perfectly competitive industry are earning a normal profit, then:

A. existing firms will exit the industry. B. new firms will enter the industry. C. there is no incentive for firms to enter or exit the industry. D. the market supply curve will shift to the left.