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A firm will shut down in the short-run if
William James
An American philosopher and psychologist, often referred to as the father of American psychology.
Psychology
The scientific study of the mind and behavior, encompassing various aspects of conscious and unconscious experience as well as thought processes.
Structuralism
A framework in psychology that emphasizes analyzing the basic elements of consciousness to understand the structure of the mind.
Functionalism
A theory in psychology that emphasizes the purpose and function of behavior and consciousness to adapt to the environment.
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