If the Price of an Input Decreases, Each Individual Firm's

question 118

Multiple Choice

If the price of an input decreases, each individual firm's ________ shifts downward and the ________ shifts to the right.

• A) marginal revenue curve; marginal cost curve
• B) marginal cost curve; industry supply curve
• C) demand curve; industry supply curve
• D) supply curve; marginal cost curve

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Definitions:

Reasonable Care

The standard of care expected to be exercised by a reasonable person under similar circumstances to prevent harm or injury.

Inadequate Referral

A referral that does not suitably match the client's needs, either due to the referred professional's lack of expertise, resources, or appropriateness for the client’s issue.

ALGBTIC

A division of the American Counseling Association focused on issues related to lesbian, gay, bisexual, transgender, and intersex individuals and their counseling.

Personal Biases

Prejudices or inclinations that affect judgment and decision-making, often based on personal experiences or beliefs rather than objective criteria.