One Thing That Makes Monopolistic Competition Similar to Perfect Competition

question 172

Multiple Choice

One thing that makes monopolistic competition similar to perfect competition is that,in the

• A) long run,both are guaranteed positive economic profit.
• B) short run,both are guaranteed positive economic profit.
• C) short run,neither can earn positive economic profit.
• D) long run,both will earn zero economic profit.
• E) long run,both could earn positive economic profit,but monopolistic competitors will earn more than perfect competitors.

Understand the concept and process of classical conditioning.

Recognize the role of unconditioned and conditioned stimuli and responses in classical conditioning.

Differentiate between higher-order conditioning and other forms of classical conditioning.

Understand extinction and spontaneous recovery within classical conditioning.

---

Definitions:

Test Statistic

A value calculated from sample data used to determine whether to reject the null hypothesis in a statistical test.

Critical Value

A threshold value in hypothesis testing that defines the boundary for rejecting the null hypothesis; it depends on the chosen significance level.

Null Hypothesis

A default hypothesis that there is no effect or no difference, and any observed deviation in data is due to chance.

Degrees Of Freedom

The number of independent values or quantities which can be assigned to a statistical distribution minus the number of parameters estimated.