According to Attribution Theory, the Explanations We Give for Our

question 64

Multiple Choice

According to attribution theory, the explanations we give for our behavior and the behavior of others generally fall into two categories:

• A) dispositional and situational.
• B) environmental and situational.
• C) mental and physical.
• D) implicit and explicit.

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Definitions:

Marginal Cost

The addition to total cost from producing one additional unit of a product.

Perfectly Competitive Firm

A perfectly competitive firm operates in a market where there are many buyers and sellers, the product is homogenous, and there is free entry and exit from the market.

Economic Profit

The gap in financial terms between total earnings and all financial burdens, considering both express and tacit costs.

Short Run

A period of time during which at least one of a firm's inputs is fixed, limiting the firm's ability to adjust to changes in demand or production costs.