An Increasing-Cost Industry Is Characterized by

question 128

Multiple Choice

An increasing-cost industry is characterized by

• A)an upward-sloping long-run supply curve.
• B)a downward-sloping long-run supply curve.
• C)a perfectly elastic long-run supply curve.
• D)perfectly elastic short-run and long-run supply curves.
• E)a perfectly elastic short-run supply curve and an upward-sloping long-run supply curve.

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Definitions:

Informational Social Influence

The effect where a person conforms to the opinions or behaviors of a group because they believe the group is correct.

Chameleon Effect

The unconscious mimicry of the postures, mannerisms, facial expressions, and other behaviors of one's interaction partners, often facilitating social connection.

Psychology Professor

An academic or professional who teaches psychology and conducts research in the field of psychology at a college or university.

Normative Social Influence

The influence of other people that leads us to conform to be liked and accepted by them.