If Monopolistic Competitors Are Making Profits,in the Long Run ______

question 74

Short Answer

If monopolistic competitors are making profits,in the long run ______ and market price will _____.

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Definitions:

Unconditioned Response

A spontaneous and inherent response to a trigger that happens without previous education or conditioning.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus, famously demonstrated by Ivan Pavlov’s experiments with dogs.

Pavlov

A Russian physiologist best known for his work in classical conditioning, particularly through his experiments with dogs.

Conditioned Stimulus

An initial neutral cue that, once linked with an unconditioned stimulus, gradually leads to a conditioned response.