Which of the Following Conditions Is Characteristic of a Monopolistically

question 218

Multiple Choice

Which of the following conditions is characteristic of a monopolistically competitive firm in short-run equilibrium?

• A)MR > MC
• B)P = MC
• C)P > ATC
• D)MR = MC

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Definitions:

Classical Conditioning

The act of learning that happens when two stimuli are paired together repeatedly, and a reaction initially caused by the second stimulus starts to be triggered by the first stimulus exclusively.

Discriminative Stimulus

A cue or event that indicates that a particular response will lead to a certain consequence in operant conditioning.

Generalized Stimulus

A stimulus that elicits a response not only to the original stimulus but also to similar stimuli.

Reinforcement

In behavioural psychology, a process by which a stimulus increases the probability of a preceding behaviour being repeated.