Which of the Following Is TRUE

question 235

Multiple Choice

Which of the following is TRUE?

• A) The long-run industry supply curve relates the price of a good or service to the quantity produced after all adjustments to a price change have been made.
• B) Every point on a long-run industry supply curve shows a price and quantity supplied at which firms in the industry are earning positive economic profit.
• C) For establishing the long-run industry supply curve, factor costs and the number of firms are held constant.
• D) In perfectly competitive industries, the long-run supply curve is always horizontal.

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Definitions:

Nonverbal Behavior

Communication without words, including gestures, body language, facial expressions, and other physical movements.

Microaggression

Subtle, often unintentional, acts or comments that are discriminatory or derogatory towards marginalized groups.

Leakage

In the context of psychology, leakage may refer to unconscious signs of hidden thoughts or emotions. In security, it refers to the unauthorized disclosure of confidential information.

Supervisor

Pertains to an individual who oversees and guides the work or tasks of others, ensuring standards and goals are met.