A Group of Nurses Are Discussing Types of Legal Contracts

question 10

Multiple Choice

A group of nurses are discussing types of legal contracts in the clinical setting. Which nursing scenario indicates an implied contract has been initiated?

• A) A nurse has made an oral agreement with the nurse manager to work an extra shift.
• B) Signature of the nurse entered on the electronic medical record chart indicates a legal contract between the nurse and the patient.
• C) A new nurse signs paperwork with Human Resources to start employment process.
• D) Nurses write their names down on a document to indicate that they have attended a continuing education conference.
• E) Nurses on the unit are focused on providing quality of care to all patients.

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Definitions:

Perfect Competition

A market structure characterized by an infinite number of small firms, identical products, and easy market entry and exit, leading to companies not having pricing power.

Monopolistic Competition

A market structure characterized by many firms selling products that are similar but not identical, allowing for some differentiation and price control.

Long-Run Economic Profits

The sustained extra income a firm generates when all inputs are variable, indicating the firm's long-term competitive advantage.

Monopolistic Competition

Monopolistic competition is a market structure where many companies sell products that are similar but not identical, allowing for product differentiation and some degree of market power.