In a Perfectly Competitive Market, the Horizontal Sum of All

question 134

Multiple Choice

In a perfectly competitive market, the horizontal sum of all the individual firms' supply curves is

• A)zero.
• B)equal to the industry profits.
• C)the market supply curve.
• D)a horizontal line.

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Definitions:

Situational Factors

External influences that can affect an individual's behavior or performance, such as environmental conditions or social circumstances.

Dispositional Factors

Internal factors such as beliefs, attitudes, personality traits, and genetics that influence behavior.

Zimbardo

Refers to Philip Zimbardo, a psychologist known for conducting the Stanford prison experiment that explored the effects of perceived power and authority on behavior.

Bystander Intervention

The phenomenon where individuals witnessing an emergency or crime are more or less likely to assist the victim based on the presence of other witnesses.