The Figure Given Below Shows the Revenue and Cost Curves

question 85

Multiple Choice

The figure given below shows the revenue and cost curves of a monopolistically competitive firm.Figure 12.4
MR: Marginal revenue curve
ATC: Average total cost curve
MC: Marginal cost curve
-One major similarity between perfect competition and monopolistic competition is that:

• A)the firms earn above normal profits in the long run.
• B)the firms are price makers.
• C)the firms produce identical products.
• D)the firms just break even in the long run.
• E)entry of firms is barred in the long run.

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Definitions:

Self-esteem

An individual's subjective evaluation of their own worth or value.

Work Environments

The physical and social settings in which people carry out their job duties, including factors like office layout, culture, policies, and coworkers.

Positive Feedback

A response mechanism that reinforces a particular behavior or performance, encouraging its recurrence by highlighting its benefits or successes.

Inflated Self-esteem

An excessively high regard for one's abilities or worth, often not aligned with reality and potentially leading to negative consequences.