Economic losses caused several firms to leave the car wash business in Portland, Oregon. Though prices have risen, firms are still leaving the industry. Apparently:
a. economic profits exist but they are not as high as in other industries.
b. economic profits are zero and firms won't stay in the industry if they are not earning an economic profit.
c. firms are still generating economic losses.
d. economic profits have decreased because of the exit of existing firms.
Question 2
The extent to which people move from one income quintile to another over time is called _____.
a. migrancy
b. moveability
c. mobility
d. exchangeability
e. transferability
