Long-Run Equilibrium Under Monopolistic Competition Requires That

question 119

Multiple Choice

Long-run equilibrium under monopolistic competition requires that

• A)the demand curve intersect the average cost curve.
• B)the demand curve be tangent to the average cost curve.
• C)price be equal to marginal cost.
• D)quantity produced be at the point where average cost is at a minimum.

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Definitions:

Conscientiousness

A personality trait characterized by organization, dependability, diligence, and a strong sense of duty, often linked to academic and professional success.

Agreeableness

A personality trait characterized by being friendly, cooperative, and compassionate toward others.

Extraversion

A personality trait characterized by high levels of enthusiasm, sociability, and assertiveness.

Neuroticism

A personality trait characterized by a tendency towards anxiety, depression, anger, and emotional instability.