What Will Happen in the Long Run If Firms in Monopolistic

question 40

Multiple Choice

What will happen in the long run if firms in monopolistic competition incur economic loss?

• A)Firms will continue producing and endure the losses.
• B)Firms will leave the industry until the remaining firms make positive economic profit.
• C)Firms will ask the government for financial aid.
• D)Firms will leave the industry until the remaining firms make zero economic profit.
• E)The level of investment in this industry will increase to boost the economy.

Identify different types of learning, including observational and associative learning.

Comprehend the concept of generalization and discrimination in conditioning.

Explain the significance of conditioned and unconditioned stimuli and responses.

Discuss the role of reinforcement and punishment in shaping behavior.

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Definitions:

Substantial Performance

In contract law, the situation that results when a party to a contract, in good faith, executes all the promised terms and conditions of the contract with the exception of minor details that do not affect the real intent of their agreement.

Promising

pertains to showing signs of future success or positive outcomes.

Goods

Tangible, movable items or merchandise that can be bought, sold, or traded, excluding real estate.

Assignor

A person who assigns rights or delegates duties under an assignment.