In the Long Run, the Prices Charged by a Firm

question 73

Multiple Choice

In the long run, the prices charged by a firm in monopolistic competition will be

• A)high enough to provide profits to the firm.
• B)so low that many firms will drop out of the industry.
• C)equal to marginal cost.
• D)equal to average cost, including the opportunity cost of capital.

---

Definitions:

Acquired Needs Theory

A psychological theory suggesting that individuals acquire certain needs through their life experiences, such as the needs for achievement, affiliation, and power, which influence their motivation and behavior.

Need For Achievement

A motivational drive that pushes individuals to reach success, excel in their endeavors, and overcome challenges through personal effort.

Job Enrichment

Enhancing a job's meaningfulness through allowing more autonomy, responsibility, and variety in tasks, often to improve employee satisfaction and performance.

Motivators

Factors that encourage or stimulate a person to act or work harder, often enhancing their engagement and performance.