Consider a Supply Curve of the Form: Q = C

question 93

Multiple Choice

Consider a supply curve of the form: Q = c + dP. If d equals zero, then supply is:

• A) completely inelastic.
• B) inelastic, but not completely inelastic.
• C) elastic, but not infinitely elastic.
• D) infinitely elastic

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Definitions:

Id

To Freud, the aspect of personality allied with the instincts; the source of psychic energy, the id operates according to the pleasure principle.

Ego

To Freud, the rational aspect of the personality, responsible for directing and controlling the instincts according to the reality principle. To Jung, the conscious aspect of personality.

Libido

in psychoanalytic theory, refers to the sexual or life drive that motivates individuals to seek pleasure and avoid pain.

Stimuli for Instincts

External or internal inputs that trigger natural, instinctive responses in an organism.