Which of the Following Is Not a Characteristic of a Monopolistically

question 139

Multiple Choice

Which of the following is not a characteristic of a monopolistically competitive firm in long-run equilibrium?

• A)Marginal revenue is equal to marginal cost.
• B)Price is equal to average revenue.
• C)The firm has excess capacity.
• D)Price is equal to marginal cost.

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Definitions:

Jerome Kagan

A renowned psychologist known for his contributions to child development, particularly his research on temperament in infants.

Secure Infant Attachments

A term describing the close and harmonious bond that develops between infants and their caregivers, marked by feelings of safety and comfort.

Strange Situation

A psychological experiment developed by Mary Ainsworth to assess attachment styles in children by observing their behavior when separated and reunited with their caregivers.

Artificial Environment

An environment created or modified by humans rather than occurring naturally, often designed for specific purposes or research.