The Olmec Were Accomplished Carvers,as Attested by Their

question 3

Multiple Choice

The Olmec were accomplished carvers,as attested by their:

• A) stone stelae.
• B) jade celts.
• C) figurines.
• D) colossal basalt heads.
• E) all of these.

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Definitions:

Decreasing-Cost Industry

An industry in which expansion through the entry of firms lowers the prices that firms in the industry must pay for resources and therefore decreases their production costs.

Long-Run Supply Curve

A graphical representation showing the relationship between market prices and the amount of output that firms are willing to supply in the long run.

Industry Expansion

The process of an industry growing in size, output, or number of participants, often through increased demand or technological advancements.

Decreasing-Cost Industry

An industry where the average cost of production decreases as the industry grows and output increases, often due to economies of scale.