White Privilege

question 6

Multiple Choice

White privilege

• A) exists only in large cities.
• B) does not exist at all.
• C) exists in western countries.
• D) applies only to men.

---

Definitions:

P = ATC

A condition where price equals average total cost, indicating that firms are covering all their costs but not making economic profit.

Disequilibrium

A state where market supply and demand are not balanced, leading to excess supply or demand and price fluctuations.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies as output quantity changes.

Monopolistically Competitive

A commercial framework where a large number of businesses market goods that are comparable, but not exact duplicates, providing them with a bit of control over market conditions.