Normal Profit Occurs When Price Equals

question 7

Multiple Choice

Normal profit occurs when price equals:

• A) Average cost
• B) Average variable cost
• C) Total cost
• D) Marginal cost

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Definitions:

Social Unrest

A condition of dissatisfaction and discord within a community or society, often leading to protests, demonstrations, or conflicts.

Relatively Deprived

A perception or feeling of disadvantage when comparing oneself to others in similar situations or to societal standards, leading to dissatisfaction and potential social unrest.

Relative Deprivation

A feeling of dissatisfaction or injustice experienced by people who believe they have less than they deserve, often in comparison to others.

Race Riots

Violent conflicts that arise from tensions or confrontations between racial groups within a community or society.