The Long-Run Supply Curve in a Constant-Cost, Perfectly Competitive Industry

question 254

Multiple Choice

The long-run supply curve in a constant-cost, perfectly competitive industry is

• A) perfectly inelastic.
• B) upward sloping.
• C) downward sloping.
• D) perfectly elastic.

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Definitions:

Dependence

A state in which there is a reliance on or need for something or someone for support or to function properly.

Regression

In psychology, regression is a defense mechanism that leads an individual to revert to a previous stage of development or to earlier, less sophisticated behaviors in response to stress or anxiety.

Transference

In psychoanalytic theory, the tendency to bring ways of thinking, feeling, and behavior that developed toward one important person into later relationships with different persons.

Libidinal Restructuring

A theoretical process involving the transformation or redirection of libidinal (sexual) energy or desires.