With Identical Firms, Constant Input Prices, and All the Other

question 70

Multiple Choice

With identical firms, constant input prices, and all the other characteristics of a competitive market

• A)the long run equilibrium price is the minimum of the average cost curve.
• B)a shift in demand will change the equilibrium price and quantity.
• C)the long run and short run equilibria are identical.
• D)Both A and B.

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Definitions:

Authoritarian Style

A parenting or leadership style characterized by strict rules, high expectations, and minimal warmth or nurturing.

Parenting

The process of promoting and supporting the physical, emotional, social, and intellectual development of a child from infancy to adulthood.

Authoritative Homes

Households that are structured around consistent rules and guidelines, yet are supportive and responsive to children's needs.

Authoritarian Parenting

A parenting style characterized by high demands but low responsiveness, where parents impose rules and expect obedience.