Figure 8.2 -Figure 8.2 Shows Demand and Costs for a Monopolistically Competitive

question 273

Multiple Choice

Figure 8.2
-Figure 8.2 shows demand and costs for a monopolistically competitive firm. In the long run we expect

• A) the firm's demand curve to shift to the right.
• B) the firm's marginal revenue curve to shift to the left.
• C) the firm's average cost curve to shift upward.
• D) the firm's marginal cost curve to shift downward.

---

Definitions:

Optimism

An attitude or mindset characterized by a positive outlook or belief in favorable outcomes.

Charismatic Leadership

A leadership style in which the leader inspires and motivates followers through their personal charm, persuasion, and dynamic personality.

Crisis Situations

Events or circumstances that pose serious threats to the stability or functioning of an organization or community, requiring immediate attention.

Charisma

A compelling attractiveness or charm that can inspire devotion in others, often used to describe individuals with magnetic personalities and leadership qualities.