When a Profit-Maximizing Firm in a Competitive Price-Searcher Market Is

question 139

Multiple Choice

When a profit-maximizing firm in a competitive price-searcher market is in long-run equilibrium, price equals

• A) marginal cost, and profits are positive.
• B) average total cost, and profits are zero.
• C) marginal cost, and profits are zero.
• D) average total cost, and profits are positive.

---

Definitions:

Low-Mach Personality

An individual who shows low manipulativeness, tends to be direct and honest, and prefers not to manipulate others for personal gain.

Exploitative

Utilizing someone or something unfairly for one's own advantage, often without regard for the welfare of the other party.

Personality Differences

The variations among individuals' behavioral traits, emotional responses, and thought processes, which can impact their interactions and performance in various settings.

Authoritarian Personality

A personality type characterized by adherence to strict obedience and control over others, often without consideration for their opinions or feelings.