In a Perfectly Competitive Market, a Decrease in the Market

question 1

Multiple Choice

In a perfectly competitive market, a decrease in the market demand will shift the perfectly competitive firm's______ curve______ .

• A)marginal cost; upward
• B)marginal revenue; upward
• C)marginal revenue; downward
• D)marginal cost; downward

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Definitions:

Control

The ability to control or guide how people act or the direction in which things happen.

Behavior Modification

The use of empirically demonstrated behavior change techniques to improve behaviors, such as reinforcing desirable behaviors and reducing unwanted ones.

Behavioral Activation

A therapeutic approach that seeks to help individuals engage more in activities they find meaningful or enjoyable to improve mood and reduce depression.

Positive Punishment

An operant conditioning concept where an undesirable behavior is followed by an unpleasant stimulus to decrease the behavior's occurrence.