If Firms' Costs Rise Rapidly as Output Increases, the

question 69

Multiple Choice

If firms' costs rise rapidly as output increases, the

• A) supply curve will tend to be flat.
• B) demand curve will tend to be steep.
• C) price elasticity of supply will tend to be low.
• D) price elasticity of supply will tend to be high.
• E) elasticity of demand will tend to be low.

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Definitions:

Irrational Negative Thinking

A pattern of thought characterized by distorted, pessimistic biases, unfounded on reason or factual evidence.

Countercondition

A behavioral therapy technique where an undesired response to a stimulus is replaced with a desirable one through association of the stimulus with a different, positive condition.

Token Economy

A token economy is a behavior modification system used to increase desirable behavior and decrease undesirable behavior with the use of tokens (symbols) that can be exchanged for rewards.

Behavior Therapy

A therapeutic approach that seeks to change potentially self-destructive or unhealthy behaviors through a variety of techniques.