Briefly and Concisely Define the Following Terms and Explain Their

question 205

Essay

Briefly and concisely define the following terms and explain their importance in the study of economics.
a. excess capacity theorem
b. price leadership
c. kinked demand curve
d. perfectly contestable market

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Definitions:

Attention-Deficit/Hyperactivity Disorder

A neurodevelopmental disorder characterized by patterns of inattention and/or hyperactivity-impulsivity that interfere with functioning or development.

Behavioral Therapies

Psychotherapeutic approaches that focus on identifying the reinforcements and punishments contributing to a person’s maladaptive behaviors and on changing specific behaviors.

Pervasive Developmental Disorders

Disorders characterized by severe and persisting impairment in several areas of development.

Autism Spectrum Disorder

A developmental disorder characterized by challenges in social interaction, communication, and by restricted and repetitive behavior.