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Which is an important aspect of the perfectly competitive market that leads to long run equilibrium?
Learned Helplessness
A state where an individual feels helpless, stemming from experiencing a traumatic incident or continual inability to achieve success.
Cognitive Dissonance
The psychological discomfort experienced when holding two or more contradictory beliefs, ideas, or values, or when one's behavior contradicts their established beliefs.
Past Experiences
Events or occurrences that have taken place in an individual's life prior to the present moment, influencing their behavior and decision-making.
Negative Thinking
A cognitive process wherein an individual consistently perceives or anticipates the worst possible outcomes or focuses on the most negative aspects of a situation.
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