Below are eight descriptions of firms operating under various market conditions. for each item, determine whether the market is a monopoly or a market with perfect competition. items (8 items) (drag and drop into the appropriate area below) a firm in this market produces where p > mca firm in this market may earn long-run economic profitsa firm in this market has no market powera firm in this market has no competitorsa firm in this market cannot earn long-run economic profitsa firm in this market has significant market powera firm in this market is one of many small competitorsa firm in this market produces where p = mc categories monopoly drag and drop here perfect competition drag and drop here.

cognitive overload: having a lot on your mind impairs decision-making and tends to result in the simplest, but not necessarily best, option being selected.

empathy gaps: overlooking how you might feel in a different situation can result in unnecessary purchases, such as overbuying when shopping for food on an empty stomach.

optimism and overconfidence: wearing rose-tinted glasses and having unrealistic expectations about the future can affect money management and leave you unprepared for a change in circumstance.

instant gratification: seeking instant gratification drives impulsive spending and can undermine long-term planning and savings.

harmful habits: automatic or mindless behaviour can amplify a poor financial decision as it becomes a recurring event.

social norms: we are heavily influenced by the actions of others; while this can be in certain circumstances, it also contributes to the pressure to keep up with the joneses through conspicuous consumption.

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answer/// equals both average variable cost and average total cost at their respective minimums;

answerpublish a notice of the proposed rulemaking proceeding in the federal register;