Examlex

Solved

Which of the Following Conditions Is Necessary for Effective Reduction

question 36

Multiple Choice

Which of the following conditions is necessary for effective reduction of prejudice, according to Gordon Allport's contact hypothesis?


Definitions:

Constant-cost Industry

An industry where input prices do not change as industry output changes, resulting in a horizontal supply curve.

LRMC

Long-Run Marginal Cost, which is the additional cost of producing one more unit of output when all inputs, including capital, are variable.

LRAC

Long-Run Average Cost, a curve that shows the lowest possible average cost of production, allowing all factors of production to vary.

Long-run Elasticities

Measure of responsiveness of demand or supply to changes in price or income, considered over a period long enough for all adjustments to be made.

Related Questions