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

question 7

Multiple Choice

The long-run supply curve for a constant-cost perfectly competitive industry is _____

• A)a ray from the origin at a 45-degree angle.
• B)perfectly inelastic.
• C)relatively inelastic.
• D)perfectly elastic.
• E)downward sloping.

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Definitions:

Oxytocin

A hormone produced in the brain that stimulates uterine contractions during childbirth and lactation, also involved in social bonding and behaviors.

Physiologic Response

The body's natural reaction to stimuli, including changes in metabolism, heart rate, and other involuntary functions.

General Adaptation

The process by which organisms adjust to changes in their environment, often through physiological or behavioral modification.

Parathyroid Glands

Four small glands embedded in the posterior thyroid gland that secrete parathyroid hormone (PTH), also known as parathormone.