A Decreasing-Cost Industry Is Characterized by

question 187

Multiple Choice

A decreasing-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:

Conscious Mind

The aspect of the mind that involves awareness of the immediate surroundings, thoughts, and sensations.

Libido

A term often used in psychoanalytic theory to denote the energy associated with the sexual drive and desire.

Id

In psychoanalytic theory, the part of the mind in which innate instinctual impulses and primary processes are manifest.

Superego

The component of the human psyche in Freudian psychoanalytic theory that mediates between the primal desires of the id and the moral standards of the ego, often associated with conscience.