If a Monopolistic Competitor Is Maximizing Profit,it Is Producing at a Point

question 28

Multiple Choice

If a monopolistic competitor is maximizing profit,it is producing at a point where marginal cost

• A)Is less than price.
• B)Equals price.
• C)Is greater than price.
• D)Equals average total cost.

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Definitions:

Psychological States

Conditions of the mind affecting emotions, behaviors, and thought processes of an individual at a given time.

Acquired Needs Theory

A motivational theory suggesting that individuals are driven by their needs for achievement, power, and affiliation, which are developed over time as a result of life experiences.

Need for Achievement

A psychological trait that drives individuals to pursue and achieve goals, often associated with higher motivation and performance.

Hygiene Factors

Are found in the job context, such as working conditions, interpersonal relations, organisational policies and salary.