Use the Following Scenario to Answer the Following Questions

question 31

Multiple Choice

Use the following scenario to answer the following questions:
Lenora and Uma own a dog-grooming business in upstate New York,called Pawkeepsie Groomers.There are many buyers and many sellers in the dog-grooming service market.Pawkeepsie Groomers experiences normal cost curves,with the marginal cost (MC) curve crossing average variable cost (AVC) at $14 and average total cost (ATC) at $22.
-Pawkeepsie Groomers will make zero economic profits if the market price is

• A) $14.
• B) between $14 and $22.
• C) below $14.
• D) $22.
• E) above $14.

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Definitions:

Learning Approach

A methodology or strategy employed in education and psychology to facilitate the acquisition of knowledge or skills.

Sociocultural

Relating to the combined influences of social and cultural factors on an individual or group.

Cognitive

Relating to mental processes such as perception, memory, thinking, and problem-solving.

Psychodynamic

A psychological perspective that emphasizes the influence of the unconscious mind on behavior and the importance of childhood experiences.