The Supply Curve for IPhones Is Upward-Sloping Because

question 141

Multiple Choice

The supply curve for iPhones is upward-sloping because

• A)when the price of an iPhone rises, it must be due to increased costs in producing iPhones, so producers must charge more.
• B)a higher iPhone price gives shoe producers incentive to produce more iPhones.
• C)iPhones are produced by only a few producers.
• D)iPhone producers always want to satisfy the demand for iPhones by consumers.
• E)as the price of an iPhone rises, per-unit costs of production fall.

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Definitions:

Observational Learning

Observational learning is the process of acquiring new behaviors or knowledge by watching and imitating others, a key concept of social learning theory.

Learned Helplessness

Learned helplessness is a condition in which a person suffers from a sense of powerlessness, arising from a traumatic event or persistent failure to succeed. It is the learned belief that one's actions have no effect on the environment.

Seligman

Martin E.P. Seligman, a psychologist known for his work on positive psychology, learned helplessness, and theories on happiness and well-being.

Symptoms

Physical or mental features that are regarded as indicating a condition or disease.