The diagram below shows demand and cost curves for a monopolistically competitive firm. 
FIGURE 11- 3
-Refer to Figure 11- 3. A monopolistically competitive firm is productively inefficient because in the long- run equilibrium
Definitions:
Sensory Adaptation
The process by which sensory receptors become less sensitive to constant stimuli over time.
Feature Detectors
Neurons in the brain that respond to specific features of a stimulus, such as lines, edges, or movement, playing a crucial role in the process of perception.
Narrow Black-And-White Lines
A visual pattern typically consisting of slim, alternating black and white stripes.
Gestalt Psychology
A school of thought in psychology that emphasizes viewing the mind and behavior as organized wholes.
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