The __________ Threshold Is the Smallest Amount of Energy Needed

question 54

Multiple Choice

The __________ threshold is the smallest amount of energy needed for a person to detect the presence of a stimulus 50% of the time.

• A) absolute
• B) difference
• C) just noticeable
• D) sensory

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Definitions:

AVC (Average Variable Cost)

The total variable costs (costs that vary with the level of output) divided by the quantity of output produced, representing the variable cost per unit.

MC (Marginal Cost)

The rise in overall expenses associated with the production of an extra unit of a product or service.

Break-Even Point

The level of production or sales at which total revenues equal total costs, resulting in no profit or loss.

Shutdown Point

The shutdown point is the level of output and price at which a business covers its variable costs; operating below this point would lead the firm to losses greater than its fixed costs.