Examlex
Each of the following is a clue that an interviewee is dishonest EXCEPT,
Normal Profit
The minimum level of profit needed for a company to remain competitive in the market; it occurs when total revenues are equal to total costs, including opportunity costs.
Monopolistically Competitive Firm
A company operating in a market structure characterized by many firms selling products that are substitutes but different enough that each has a degree of market power.
Long-Run Equilibrium
A condition in which supply and demand are balanced, all inputs can be varied by firms, and there is no incentive for market entry or exit.
Graphs
Visual representations of data, relationships, or trends using points, lines, bars, or other symbols.
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