Table 214 For the Output Levels in Table 21

question 11

Multiple Choice

Table 21.4 $\begin{array}{|c|r|}\hline \text { Output (Units per Day) } & \text { Total Cost (Dollars per Day) } \\\hline 0 & 16 \\\hline 1 & 30 \\\hline 2 & 42 \\\hline 3 & 58 \\\hline 4 & 78 \\\hline\end{array}$
For the output levels in Table 21.4,the minimum of the average variable cost curve occurs at a production rate of

• A)3 units per day.
• B)2 units per day.
• C)4 units per day.
• D)Zero units per day.

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Definitions:

Expectancy Theory

A psychological theory explaining the processes that individuals use to make decisions based on their beliefs about the likelihood of success and the value of the success to them.

Expectancy

An individual’s assessment of the probability that effort will lead to correct performance of the task.

Goal Characteristics

The specific attributes or factors that define goals, including their clarity, difficulty, relevance, and the extent to which they are achievable and measurable.

Performance Levels

The degrees or stages of how effectively an individual, group, or organization meets their goals or objectives.