A Constant-Cost Industry Is One in Which

question 175

Multiple Choice

A constant-cost industry is one in which

• A)resource prices fall as output is increased.
• B)resource prices rise as output is increased.
• C)resource prices remain unchanged as output is increased.
• D)small and large levels of output entail the same total costs.

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Definitions:

Regression

Regression is a defense mechanism identified in psychoanalytic theory, where an individual retreats to earlier stages of development or simpler forms of behavior in the face of stress or as a means of coping.

Denial

A psychological defense mechanism wherein a person refuses to accept reality or facts, thus protecting themselves from uncomfortable feelings.

Repression

A defense mechanism where unwanted feelings and thoughts are unconsciously pushed out of conscious awareness.

Rationalization

A defense mechanism where individuals justify their actions or decisions with plausible but not the real reasons to avoid facing the true underlying motives.