Figure 10-6 ​

question 68

Multiple Choice

Figure 10-6
​
-Firms will continue to enter a perfectly competitive industry until

• A)the supply curve is vertical.
• B)the supply curve is meaningless.
• C)any excess returns have been competed away.
• D)all resources are fully employed.

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Definitions:

Striving for Superiority

A concept in psychology suggesting that a primary motivational force in humans is the pursuit of superiority or success in overcoming challenges.

Alfred Adler

An Austrian psychiatrist and founder of Adlerian psychology, emphasizing the importance of the feeling of inferiority in the development of personality.

Oedipal Complex

A Freudian theory in psychoanalytic psychology that a child, typically around the age of three to five, experiences a desire for the opposite-sex parent and hostility toward the same-sex parent.

Phallic Complex

A Freudian theory phase of childhood development characterized by attachment to the parent of the opposite sex and jealousy toward the same-sex parent.