The Accompanying Graphs Are for a Purely Competitive Market in the Short

question 128

Multiple Choice

The accompanying graphs are for a purely competitive market in the short run. The graphs suggest that in the long run, as automatic market adjustments occur, the demand curve facing the individual firm will

• A)shift up.
• B)shift down.
• C)not shift.
• D)slope downward.

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Definitions:

Reality Principle

A psychoanalytic concept where the ego seeks to satisfy the id’s desires in realistic and socially acceptable ways.

Operate

To function or perform effectively, often referring to machinery or procedures, but also can apply to individuals and organizations.

Ego

In psychoanalytic theory, the part of the personality that mediates between the demands of the id, the superego, and reality.

Psychosexual Stages

A Freudian theory that developmental stages occur from birth to adulthood, focusing on erogenous zones that drive pleasure-seeking behaviors.