In Which of the Following Market Structures Can Firms Earn

question 216

Multiple Choice

In which of the following market structures can firms earn economic profits in the long run?

• A)perfect competition
• B)monopolistic competition
• C)monopoly
• D)Both b and c are correct.

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Definitions:

Childhood Repression

A defense mechanism identified by psychoanalytic theory, where unpleasant childhood memories are unconsciously blocked out as a protective measure.

Aversive Conditioning

A form of behavior modification that involves using unpleasant stimuli to discourage undesirable behaviors.

Desensitizing

The process of reducing sensitivity or responsiveness to an external stimulus, often used as a therapeutic technique.

Systematic Desensitization

A behavioral therapy method used to reduce phobias, anxiety, and fears through gradual exposure to the feared object or situation.