Complete the Statements Below

question 49

Short Answer

Complete the statements below.
In a perfectly competitive firm in the long run:
(a) Profit maximisation occurs at the point where price is equal to:
(b) Average revenue is equal to:
(c) The efficient output level occurs at minimum:

(i) average cost.
(ii) marginal cost.
(iii) marginal revenue.

---

Definitions:

Self-Esteem

An individual's overall subjective assessment of their own worth or value.

Self-Esteem

An individual's overall subjective emotional evaluation of their own worth or value.

Social Acceptance

The act of a community or group receiving an individual as an adequate member of said group, often conforming to its norms, beliefs, and expectations.

Belonging

The feeling of security and support when there is a sense of acceptance, inclusion, and identity for a member within a group.