Giftedness

question 23

Multiple Choice

Giftedness

• A) is the brain's ability to integrate functions in an accelerated manner
• B) is when a person is especially precocious in one area
• C) is when a person thinks in unusual ways about a particular area
• D) All of the above
• E) is when a person is especially precocious ad thinks in unusual ways about a particular area

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Definitions:

Diminishing Returns

The decrease in the marginal (incremental) output of a production process as the amount of a single factor of production is incrementally increased, while other factors are kept constant.

Average Cost

The total cost of production divided by the number of goods produced.

Marginal Cost

Marginal cost is the change in total cost that arises when the quantity produced is incremented by one unit; it is the cost of producing one more unit of a good.

Marginal Productivity

The additional output that can be produced by adding one more unit of a specific input, holding all other inputs constant.