A Firm That Exits Its Market Has to Pay

question 200

Multiple Choice

A firm that exits its market has to pay

• A)its variable costs but not its fixed costs.
• B)its fixed costs but not its variable costs.
• C)both its variable costs and its fixed costs.
• D)neither its variable costs nor its fixed costs.

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Definitions:

Neutral Outcomes

Results of an action or experiment that neither significantly benefit nor harm the situation or subjects involved.

Self-Efficacy

An individual's belief in their own ability to succeed in specific situations or accomplish a task.

Confident People

Individuals who possess self-assurance and a strong belief in their own abilities and worth.

Self-Reinforcement

A process where individuals reward themselves for reaching a goal or maintaining a standard of behavior.