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What are the three elements of Cooley's looking-glass self concept?
Alfred Marshall
A prominent British economist known for his significant contributions to the principles of microeconomics.
Purely Competitive Firm
A company that operates in a market where there are many buyers and sellers, each selling a homogeneous product with no single seller or buyer having the market power to influence prices.
Long-run Equilibrium
A state in which all economic forces such as supply and demand are balanced, and all firms are producing at a level where no new entrants will disrupt the market.
Minimum ATC
The lowest point on the average total cost curve, representing the most efficient scale of production for a firm.
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