In Monopolistic Competition as Well as in Monopoly

question 10

Multiple Choice

In monopolistic competition as well as in monopoly,

• A)price exceeds marginal revenue for each firm.
• B)profit is zero in a long-run equilibrium for each firm.
• C)entry and exit by firms are unrestricted.
• D)there are at most a few firms in each market.

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Definitions:

Intrinsic Motivation

The drive to engage in activities for their own sake, out of interest or enjoyment, rather than for some separable consequence.

Treatment Defensiveness

Refers to the resistance or opposition demonstrated by individuals when faced with therapeutic interventions or suggestions for behavior change, often observed in psychotherapy or counseling contexts.

CAT Mnemonic

A memory aid used in therapy, which stands for Catch, Assess, and Tackle, helping individuals to manage thoughts and reactions.

DARN Mnemonic

A tool used to remember the four types of client statements indicating readiness for change: Desire, Ability, Reasons, and Need.