If Factor Prices Rise as Demand Increases and the Firms

question 54

Multiple Choice

If factor prices rise as demand increases and the firms expand output, the long-run market supply curve will be upward sloping. In terms of economics, this describes

• A) an oligopolistic industry.
• B) a constant cost industry.
• C) an increasing cost industry.
• D) a decreasing cost industry.

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Definitions:

Attachment

An emotional bond that forms between individuals, critical to personal development and psychological health.

Artificial Mothers

Refer to experimental or surrogate mother figures used in psychological studies to explore attachment, comfort, and emotional security in infants.

Erikson's Childhood Stages

A developmental theory by Erik Erikson that outlines eight stages from infancy to adulthood, with each stage presenting a psychological conflict that must be resolved for healthy personality development.

Industry Vs. Inferiority

A stage of Erikson's psychosocial development where, between the ages of 5 and 12, children strive to master knowledge and skills, facing the challenge of feeling competent versus inferior.