If the Average Cost Curve Is Downward Sloping,then

question 65

Multiple Choice

If the average cost curve is downward sloping,then

• A) marginal cost is smaller than average cost.
• B) the marginal cost curve is also downward sloping.
• C) there are increasing marginal returns to labor.
• D) wages and other input prices are falling.

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Definitions:

Associative Strength

The measure of how strongly two ideas or experiences are connected in the mind, influencing the ability to learn associations.

Training Trial

An instance or episode during which a learning process is implemented, aimed at teaching a specific skill or behavior.

Rescorla And Wagner

A model proposing that the strength of learning is determined by the extent to which a conditioned stimulus (CS) is surprising or unexpected, pertaining to classical conditioning.

Learned Irrelevance

The presentation of a stimulus without an unconditioned stimulus (UCS) leads to the recognition that the stimulus is irrelevant, stops attention to that stimulus, and impairs conditioning when the stimulus is later paired with the UCS.