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What is the "primacy effect" and how does it influence the impressions we form of other people? Describe one piece of research that demonstrates this phenomenon. What two explanations have social psychologists offered in an effort to account for the existence of this effect?
Consumption Rate
The speed at which goods or services are being used or consumed by consumers.
Marginal Product
Marginal product refers to the additional output resulting from using one more unit of a production input, such as labor or capital, holding other inputs constant.
Average Product
The output per unit of input, calculated by dividing total output by the total quantity of inputs.
Labor
The effort by humans to produce goods or services in exchange for wages or other compensation.
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