In the Long Run, If the Demand Curve of a Monopolistically

question 28

Multiple Choice

In the long run, if the demand curve of a monopolistically competitive firm is tangent to its average total cost curve then

• A)the firm would break even.
• B)the firm would shut down temporarily.
• C)the firm would earn enough revenue to cover its variable costs, but not its fixed costs.
• D)the firm would earn an economic profit.

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Definitions:

Implicit Prejudice

Unconscious biases or attitudes towards individuals or groups without conscious awareness.

Black Faces

In psychological studies, this term often refers to the use of images of faces of African or African American individuals in research on racial bias and perception.

Implicit Association Test (IAT)

A psychological test designed to uncover the strength of a person's automatic association between mental representations of objects or concepts.

Unconscious Level

A part of the mind that is inaccessible to the conscious mind but affects behavior and emotions.