Long-Run Equilibrium in a Monopolistically Competitive Market Satisfies All of the Following

question 13

Multiple Choice

Long-run equilibrium in a monopolistically competitive market satisfies all of the following conditions,except:

• A)zero economic profit.
• B)excess capacity.
• C)price equal to marginal cost.
• D)marginal revenue equal to marginal cost.

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Definitions:

Gordon Allport

An American psychologist who is often considered one of the founders of personality psychology and known for his theory of personality traits.

Collective Unconscious

A concept in Jungian psychology referring to the part of the unconscious mind that is shared among beings of the same species containing archetypes.

Carl Jung

A Swiss psychiatrist and psychoanalyst who founded analytical psychology and introduced concepts such as the collective unconscious and archetypes.

Homosexual Orientation

A romantic or sexual attraction to members of the same sex.