The Evidence from Studies of Twins and Biological and Adoptive

question 88

Multiple Choice

The evidence from studies of twins and biological and adoptive siblings indicates that shared environmental influences explain approximately _____ percent of individual variations in personality traits.

• A)0 to 1
• B)15
• C)25
• D)50

---

Definitions:

Profit Maximizing

The process of adjusting production and sale strategies to achieve the highest possible profits.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues; represents the extra amount over the payment needed to keep a resource in its current use.

P = ATC

An equation indicating the price level (P) at which the average total cost (ATC) of production is exactly met, often representing a break-even point for firms in competitive markets.

Pure Monopolist

A single seller in a market with no close substitutes for the product, giving the seller significant control over prices and output levels.