Carol Owns a Running Shoe Store That Operates in a Perfectly

question 362

Multiple Choice

Carol owns a running shoe store that operates in a perfectly competitive market.If running shoes sell for $120 per pair and the average total cost per pair of shoes is $125 at the profit-maximizing output level,then in the long run

• A) more firms will enter the market.
• B) some firms will exit from the market.
• C) the equilibrium price per pair of shoes will fall.
• D) average total costs will fall.

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Definitions:

Unconditional Positive Regard

Accepting and supporting another person regardless of what the person says or does, especially in the context of client-centered therapy.

Rogers

Refers to Carl Rogers, an influential American psychologist who founded the humanistic approach to psychology.

Love

A complex set of emotions, behaviors, and beliefs associated with strong feelings of affection, warmth, and respect for another person.

Humanistic

A psychological perspective focusing on individual potential and stress on the importance of growth and self-actualization.