Do Stereotypes Ever Change? Under What Circumstances Might We Expect

question 108

Essay

Do stereotypes ever change? Under what circumstances might we expect stereotypes to change? Who is more likely (and who less likely)to hold on to a stereotype?

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Definitions:

ATC

Average Total Cost, which is the total cost of production divided by the quantity of output produced.

Profit-Maximizing Firm

A business entity that focuses on activities and decisions that increase its net earnings to the highest possible level.

Horizontal Axis

In a graph or chart, the x-axis, which typically represents the independent variable or time scale.

Total Economic Profit

Total economic profit is the difference between a firm's total revenues and its total costs, including both explicit and implicit costs.