Assume There Is a Decrease in the Market Demand for a Good

question 48

Multiple Choice

Assume there is a decrease in the market demand for a good sold by price-taking firms that are initially producing the profit-maximizing level of output.For the individual firm,this would result in:

• A)a decrease in both price and the profit-maximizing quantity of output.
• B)a decrease in price and increase in the profit-maximizing quantity of output.
• C)an increase in both price and the profit-maximizing quantity of output.
• D)an increase in price and decrease in the profit-maximizing quantity of output.

---

Definitions:

Free Association

A psychoanalytic process where a patient says whatever comes to mind without censorship, used to explore the unconscious.

Empathetic Approach

A method or strategy that involves understanding and sharing the feelings of another individual.

Client-centered

A psychotherapeutic approach developed by Carl Rogers that emphasizes providing a supportive environment in which clients can improve their self-concept and increase their understanding of their own behaviors.

Eating Disorders

Mental disorders characterized by abnormal or disturbed eating habits that negatively affect a person's health and well-being, such as anorexia nervosa or bulimia nervosa.