If a Firm Is Earning a Large Economic Profit and the Firm

question 35

Multiple Choice

If a firm is earning a large economic profit and the firm operates in a fairly competitive market, then, over time:

• A) old firms will exit and prices will rise.
• B) old firms will exit and prices will fall.
• C) new firms will enter and prices will rise.
• D) new firms will enter and prices will fall.

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Definitions:

Collaborative Change Plan

A client-centered approach used in therapy where therapist and client work together to develop strategies for change.

Counselor Communication

Refers to the methods and skills used by counselors to effectively convey information, advice, or guidance to clients.

Advising

The act of giving recommendations or guidance to someone, often regarding decisions or courses of action.

DARN Mnemonic

A mnemonic used in motivational interviewing that stands for Desire, Ability, Reasons, and Need, to help clients articulate their motivation to change.