Like the Short Run

question 74

Multiple Choice

Like the short run

• A)the long run supply curve is the sum of the individual firms' supply curves.
• B)the maximum number of firms in the market is fixed.
• C)firms operate only if they make a positive profit.
• D)All of the above.

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Definitions:

Mere Exposure Effect

The psychological phenomenon by which people tend to develop a preference for things merely because they are familiar with them.

Marriage

Marriage is a legally and socially sanctioned union between individuals that establishes rights and obligations between them and their children.

Bystander Effect

A concept in social psychology where the presence of others decreases a person's likelihood to offer assistance to a person in need.

Frustration-Aggression Principle

A psychological theory suggesting that frustration often leads to aggressive behavior.