Under Both Perfect Competition and Monopoly, a Firm

question 90

Multiple Choice

Under both perfect competition and monopoly, a firm:

• A) is a price taker.
• B) is a price maker.
• C) will shut down in the short-run if price falls short of average total cost.
• D) always earns a pure economic profit.
• E) sets marginal cost equal to marginal revenue.

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Definitions:

Preference

The act of favoring or choosing something over another based on subjective criteria.

Insecure Attachment

A type of emotional bond with a caregiver characterized by anxiety or avoidance, often due to inconsistent or unresponsive caregiving.

Loving Parent

A caregiver who provides affection, attention, and support to foster the emotional and developmental well-being of their child.

Attachment Pattern Change

refers to alterations in the way an individual forms emotional bonds and connections with others, often due to experiences or interventions.