When Firms Have an Incentive to Exit a Competitive Market,their

question 108

Multiple Choice

When firms have an incentive to exit a competitive market,their exit will

• A) lower the market price.
• B) necessarily raise the costs for the firms that remain in the market.
• C) raise the profits for the firms that remain in the market.
• D) shift the demand for the product to the left.

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Definitions:

Obsessive-Compulsive Personality Disorder

A mental disorder identified by an ongoing obsession with being orderly, perfect, and in control of both one's own thoughts and relationships, sacrificing adaptability, openness, and effectiveness in the process.

Order

The arrangement or disposition of people, items, or concepts in relation to each other following a particular sequence, pattern, or method.

Obsessive-Compulsive Personality Disorder

A personality disorder characterized by a pervasive pattern of preoccupation with orderliness, perfectionism, and mental and interpersonal control, at the expense of flexibility, openness, and efficiency.

Perfectionistic

A personality trait characterized by striving for flawlessness and setting excessively high performance standards.