In a Monopolistically Competitive Market, Equilibrium Is Characterised By

question 114

Multiple Choice

In a monopolistically competitive market, equilibrium is characterised by:

• A)the average total cost curve being tangent to the demand curve
• B)marginal cost crossing the demand curve
• C)price being equal to the minimum of average total cost
• D)firms making a positive economic profit

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Definitions:

Big Five Personality Traits

The Big Five personality traits are a model that outlines five broad dimensions of human personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Conscientiousness

The care a person gives to organization and thoughtfulness of others; dependability.

Neuroticism

Degree of emotional instability or stability.

Self-Concept

Self-concept is an individual's perception of their own strengths, weaknesses, and unique qualities, constituting their sense of who they are.