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The nurse manager is updating unit staff on findings by The Joint Commission.Which of the following statements shows an understanding of untoward events in the hospital setting? The primary cause of untoward events is
Perfect Competition
A market structure characterized by many sellers and buyers, homogeneous products, and free entry and exit, resulting in price takers.
Economic Profit
The difference between a business's total revenue and its total costs, including both explicit and implicit costs.
Long-Run Supply Curve
A graphical representation showing the relationship between price and quantity supplied over time, factoring in adjustments in factors of production.
Constant-Cost Industry
Industry whose long-run supply curve is horizontal.
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