After an Increase in Demand in a Constant-Cost Industry, Firms

question 39

True/False

After an increase in demand in a constant-cost industry, firms will find themselves with higher average cost curves.

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Definitions:

Self-Transcendence

The process of overcoming the self and its limitations to achieve a wider sense of belonging, meaning, or connection with the universe, humanity, or a higher entity.

Psychoanalysis

Freud’s theory of personality that attributes thoughts and actions to unconscious motives and conflicts; the techniques used in treating psychological disorders by seeking to expose and interpret unconscious tensions.

Free Association

In psychoanalysis, a method of exploring the unconscious in which the person relaxes and says whatever comes to mind, no matter how trivial or embarrassing.

Self-Actualization

The process by which individuals realize their fullest potential, achieving their personal, creative, and intellectual capabilities and aspirations.