The Long-Run Supply Curve Is

question 5

Multiple Choice

The long-run supply curve is

• A) a horizontal line for a constant-cost industry.
• B) upward sloping for a decreasing-cost industry.
• C) downward sloping for an increasing-cost industry.
• D) all of the above.

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Definitions:

Punishment Industry

A term that refers to the network of prisons, jails, and detention centers, along with the businesses and government agencies involved in their operation, emphasizing the profit motive behind incarceration.

Criminal Justice System

An organized set of legal and social institutions that enforce the laws, maintain public order, and deliver justice.

Mass Media

Refers to various forms of media technologies used to reach a large audience via mass communication, including television, radio, newspapers, and the internet.

Technique of Rationalization

Strategies or practices employed to make processes more efficient and effective, often through the application of scientific or logical methods.