John, Age 4, Reports That When He Grows Up, He

question 146

Multiple Choice

John, age 4, reports that when he grows up, he will marry his mother. How should his family respond?

• A)They shouldn't be too concerned because this is an example of the characteristic precausal reasoning of a young child.
• B)They should be very concerned because John, by this age, should understand that this will not happen.
• C)They should be very concerned because as it is a sign of a personality problem.
• D)They shouldn't be too concerned because this is part of what happens as children begin the process of identification.

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Definitions:

Supply Curve

The supply curve is a graphical representation showing how the quantity of a good that a supplier is willing and able to sell varies depending on the price.

Long-run Equilibrium

A state in which all factors of production and costs are variable, allowing firms in a perfectly competitive market to make zero economic profit, balancing supply and demand.

Maximum Profits

The highest possible financial gain that a business can achieve in a given period, optimizing revenue while minimizing costs.