An Industry's Long-Run Supply Curve Shows

question 158

Multiple Choice

An industry's long-run supply curve shows

• A)the relationship in the long run between market price and quantity supplied.
• B)how the government determines the price of the product.
• C)how average productivity is changing.
• D)greater than normal profit.

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Definitions:

Nativist Approach

A psychological theory proposing that specific abilities or talents are innate or biologically pre-programmed from birth.

Language Acquisition

The process by which humans acquire the ability to perceive, comprehend, and produce language through both innate mechanisms and learned elements.

Innate Capacity

A natural ability or talent that an individual is born with, not acquired through learning.

Relativist

A philosophical stance asserting that points of view have no absolute truth or validity, having only relative, subjective value according to differences in perception and consideration.