Examlex

Solved

Robert Is in Prison for the Fourth Time in Five

question 90

Multiple Choice

Robert is in prison for the fourth time in five years. He was previously diagnosed with anti-social personality disorder and has surprised the prison psychologist by signing up for therapy. What is Robert most likely hoping to gain from therapy?


Definitions:

Variable Factor

In economics, an input in the production process that can be adjusted in the short run to change the quantity of output.

Fixed Factors

Inputs in the production process that cannot be easily increased or decreased in a short period of time.

Constant Returns To Scale

a situation in production where increasing all inputs by the same percentage results in output increasing by that same percentage.

Long-run Profits

The potential earnings of a business over a period long enough for all inputs to be adjusted, considering the firm's ability to enter or exit markets.

Related Questions