The Diagram Below Shows Demand and Cost Curves for a Monopolistically

question 59

Multiple Choice

The diagram below shows demand and cost curves for a monopolistically competitive firm. FIGURE 11-3
-Refer to Figure 11-3.In the long run,a monopolistically competitive firm will

• A)make profit by producing at Q₂ and charging price P₁.
• B)lose money by producing at Q₁ and charging price P₂.
• C)maximize profit and make positive profit by producing at Q₁ and charging price P₁.
• D)maximize profit but only break even by producing at Q₁ and charging price P₁.
• E)maximize profit by producing output level Q₂,the minimum point of its LRAC curve.

Understand the difference between intrinsic and extrinsic motivation and their effects on behavior.

Recognize the physiological and hormonal bases of hunger and satiety.

Identify factors affecting human motivation including hunger, achievement, and grit.

Describe the concept of set point and how it relates to body weight regulation.

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Definitions:

Position Power

The authority and influence a person holds in an organization by virtue of the position they occupy, rather than personal attributes or expertise.

Reward Power

Reward power is the capacity to offer something of value as a way of influencing other people.

Positive Outcomes

Favorable results achieved after the implementation of a plan, strategy, or action.

Organisational Goals

The objectives or targets that an organization aims to achieve, which guide its operational and strategic decisions.