Suppose That (1)LRATC Is Minimized at $60 When 30,000 Units

question 8

Multiple Choice

Suppose that (1) LRATC is minimized at $60 when 30,000 units are being produced,(2) the quantity demanded at a price of $60 is 150,000 units,and (3) there are currently 10 firms producing in the market.Then,

• A)we should expect competition to result in a decrease in the number of firms
• B)we should expect a natural monopoly to emerge
• C)we should expect some existing firms to divide up into smaller firms.
• D)the LRATC curve will shift upward in the long run
• E)the LRATC curve will shift downward in the long run.

Recognize the role of psychology in the legal system and its application to criminal behavior.

Understand how psychologists study and influence workplace behavior and environments.

Grasp the impact of psychological factors on physical health and disease.

Learn about the influence of environmental factors on behavior and mental processes.

---

Definitions:

Self-Fulfillment

A personal realization or achievement of one’s talents, potential, and abilities, often leading to feeling fulfilled or content.

Own Potential

The inherent capability or capacity within an individual to grow, develop, or achieve success.

Communication Technique

Strategies or methods used to convey information effectively, whether verbally, non-verbally, or through written communication.

Train of Thought

The progression of thoughts and ideas in an individual's mind, often leading to a specific conclusion or understanding.