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Mary recently opened her own styling salon.After the first month of operation,she looks at the mix of inputs she is using to see whether she should make any changes.The value of marginal product of her stylists is $125,000,and their wage is $20.Her equipment and salon space produces a value of $250,000,and it costs $400 to rent it.The land,which she rents at $800,produces a value of $300,000.Should she change her input mix or is she maximizing profit with her current arrangement?
Rationalization
The cognitive process of justifying behaviors or decisions with plausible, but not necessarily true, reasons.
Computer Software
Programs and operating information used by a computer to perform tasks, ranging from operating systems to application programs.
Defense Mechanism
Psychological strategies brought into play by individuals to cope with reality and to maintain self-image.
Displacement
A psychological defense mechanism where an individual shifts feelings from an undesirable situation to one that is more acceptable.
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