Casey and Caleb Are a Set of Female/male Twins

question 86

Multiple Choice

Casey and Caleb are a set of female/male twins. When tested for self-esteem they scored virtually the same. They are most likely

• A) Caucasian and in the upper-class.
• B) non-Caucasian and in the upper-class.
• C) non-Caucasian and in a lower-class.
• D) Caucasian and in a lower-class.

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Definitions:

Long-run Cost Structure

The pattern of costs that a firm faces over a long period when it is free to adjust all of its input levels, including investment in new plant and equipment.

Competitive Industry

An industry characterized by many firms offering similar or slightly differentiated products, leading to a high degree of competition and typically lower prices.

Increasing-cost Industry

An industry in which the costs of production increase as the industry expands, often due to limitations in resources or factors of production.