Use the Figure to Answer the Following Question(s)

question 28

Multiple Choice

Use the figure to answer the following question(s) .
Figure 10-4
-If the cost and demand conditions of this competitive price-searcher firm depicted in Figure 10-4 are representative of the market, what will happen in the future?

• A) Some firms will go out of business, and the market price will rise.
• B) The current market price will tend to persist into the future.
• C) New firms will enter the market, and the market price will decline.
• D) The firms in this industry will probably collude in order to increase their profitability.

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Definitions:

Contingency Contract

A behavior modification technique where an agreement is made between two parties, outlining specific behaviors and the rewards or consequences that follow from those behaviors.

Reinforcements

In behavioral psychology, stimuli which increase the likelihood of a behavior being repeated, can be positive or negative.

Existential Therapies

A group of psychotherapies emphasizing autonomy, freedom, and the search for meaning, focusing on the human condition as a whole.

Psychotherapy Practice

The professional application of psychological methods, particularly when based on regular personal interaction, to help a person change behavior and overcome problems in desired ways.