A Downward-Sloping Demand Curve

question 31

Multiple Choice

A downward-sloping demand curve

• A)is a feature of all monopolistically competitive firms.
• B)means that the firm in question will never experience a zero profit.
• C)causes marginal revenue to exceed price.
• D)prohibits firms from earning positive economic profits in the long run.

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Definitions:

Sensation Seeking Scale

A psychological tool used to measure an individual's tendency to seek varied, novel, complex, and intense sensations and experiences.

Personality Differences

Variations among individuals in terms of their patterns of thinking, feeling, and behaving.

Neuroticism

A personality trait characterized by a tendency to experience negative emotions more easily, such as anxiety, anger, or depression.

Sensation Seekers

Sensation seekers are individuals who seek out experiences that are varied, novel, complex, and intense in order to satisfy their need for physical and emotional arousal.