When a Monopolistically Competitive Industry Is in Long-Run Equilibrium,each Firm

question 17

Multiple Choice

When a monopolistically competitive industry is in long-run equilibrium,each firm will be operating where price is

• A)greater than average total cost but equal to marginal cost.
• B)greater than average total cost and greater than marginal cost.
• C)equal to average total cost and to marginal cost.
• D)greater than marginal cost but equal to average total cost.
• E)less than marginal cost and equal to average total cost.

---

Definitions:

Humanistic Psychologist

A psychologist specializing in humanistic psychology, which emphasizes individual potential and stresses the importance of growth and self-actualization.

Personal Growth

The process of improving oneself through activities that develop talents and potential, contribute to self-actualization, and enrich quality of life.

Unconscious

A level of consciousness that reflects a lack of awareness of the external world and inner mental activity.

Sigmund Freud

An Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.