If a Monopoly Earns a Loss in the Short Run

question 141

True/False

If a monopoly earns a loss in the short run and market conditions do not change, then it should exit the industry in the long run.

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Definitions:

Repressed Unconscious

A concept in psychoanalytic theory referring to feelings, thoughts, and desires unconsciously held out of awareness, due to being deemed unacceptable or threatening.

Conditioning

A learning process in which an individual's behavior becomes dependent on or is triggered by a specific environmental stimulus.

Phobic Behaviors

Actions or reactions that are excessively fearful of specific objects, situations, or activities.

Reinforcement

In behavior psychology, it refers to any stimulus which strengthens or increases the probability of a specific response or behavior.