The Accompanying Graph Shows the Long-Run Supply and Demand Curves

question 72

Multiple Choice

The accompanying graph shows the long-run supply and demand curves in a purely competitive market. We know that when this market reaches equilibrium, the marginal

• A)cost equals marginal benefit.
• B)benefit exceeds marginal cost.
• C)cost exceeds marginal benefit.
• D)cost equals zero.

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Definitions:

Big Five

A theory in psychology that identifies five main personality traits: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Emotionally Stable

Refers to individuals who have a consistent emotional state and react to stress and adversity in a calm and rational manner.

Heritability

A measure of how much of the variation in a trait among individuals within a population can be attributed to genetic differences.

Highly Heritable

A term used to describe traits or conditions that have a significant genetic component, indicating that they are largely passed down through families.