Which of the Following Is True When Long-Run Equilibrium Conditions

question 106

Multiple Choice

Which of the following is true when long-run equilibrium conditions are present in price-taker and competitive price-searcher markets?

• A) MR = ATC in both price-taker and competitive price-searcher markets.
• B) P = ATC in price-taker markets; P = MC in competitive price-searcher markets.
• C) P = MC in both price-taker and competitive price-searcher markets.
• D) P = ATC in both price-taker and competitive price-searcher markets.

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Definitions:

Rewarded

The process or act of receiving a benefit, recognition, or reinforcement for one's actions or behavior, often used in the context of behaviorist theories of learning.

Internally Motivated

Driven by internal rewards, such as personal satisfaction, rather than external rewards like money or status.

Womb Envy

A concept in Neo-Freudian psychology suggesting that males may feel envy towards the biological abilities of females, such as pregnancy and childbirth.

Margaret Mahler

A psychoanalyst known for her work in child development and her theories on the separation-individuation process of infants.