If the Long-Run Supply Curve Slopes Downward, We Know That

question 135

Multiple Choice

If the long-run supply curve slopes downward, we know that this is

• A) a decreasing-cost industry.
• B) a constant-cost industry.
• C) an increasing-cost industry.
• D) a situation in which no input prices change as firms enter and exit the industry.

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Definitions:

Role Underload

Disruptive amount of stress that can occur when people experience too little to do.

Role Overload

A burdensome workload that creates stress for a person in two ways: (1) the person may become fatigued and less able to tolerate annoyances and irritations and (2) a person subject to unreasonable work demands may feel perpetually behind schedule, a situation that itself creates an uncomfortable, stressful feeling.

Internal Locus

The belief that one controls one's own destiny and outcomes are a result of one's own efforts.

Stress

A physical or emotional response to external or internal pressures, challenges, or demands.