The Total Cost Curve

question 62

Multiple Choice

The total cost curve

• A)has a positive slope throughout.
• B)has a negative slope throughout.
• C)is vertical.
• D)is horizontal.
• E)can have a positive or negative slope throughout.

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Definitions:

Acquisition

The process of obtaining ownership or control of something, often through purchase.

Extinction

In psychology, the gradual weakening of a conditioned response when the conditioned stimulus is repeatedly presented without the unconditioned stimulus.

Classical Conditioning

A method of learning wherein two stimuli are continually coupled; over time, the reaction initially incited by the second stimulus comes to be incited by the first stimulus alone.

Acquisition

Acquisition in the context of psychology refers to the initial stage of learning when a response is first established or a new skill is begun to be acquired.