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Which of the following explains the shape of the long-run average cost curve?
Higher Esteem Needs
Refers to the fourth level in Maslow's hierarchy of needs, focusing on respect, self-esteem, status, recognition, and freedom.
Status
The relative social, professional, or other standing of someone or something, which can be indicated by various factors including wealth, authority, and achievement.
Recognition
The ability or action of identifying or acknowledging something or someone as already known or familiar.
Impulse Buy
A purchase made spontaneously, often without prior planning, driven by emotional response rather than thoughtful decision-making.
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