In Long-Run Equilibrium in Perfect Competition

question 212

Multiple Choice

In long-run equilibrium in perfect competition:

• A)price is greater than average total cost.
• B)price is equal to average total cost at an output less than the output at which average total cost is minimized.
• C)price is equal to average total cost at its minimum.
• D)price is equal to average total cost at an output greater than the output at which average total cost is minimized.

---

Definitions:

Carl Rogers

A humanistic psychologist who developed Client-Centered Therapy and emphasized the importance of the self-concept in personality development.

Self-Efficacy

An individual's belief in their own ability to succeed in specific situations or accomplish a task.

Incongruent Self-Concept

A state where there is a mismatch between an individual’s self-image and reality, often leading to confusion, frustration, and psychological distress.

Conditional Love

Affection and regard that are dependent on meeting certain conditions or expectations set by the giver.