Examlex
When Gordon Allport (1954) described stereotyping as "the law of least effort," he was suggesting that stereotypes arise __________.
Economic Profit
Economic profit is the profit from producing goods and services while factoring in the full costs of its resources, including opportunity costs.
Average Total Cost
The total cost divided by the quantity produced, reflecting the per unit cost of production.
Average Variable Cost
The variable cost per unit of output, which includes costs that vary with production, such as materials and labor.
Economic Profit
The net outcome of subtracting all expenses, both overt and hidden, from a corporation's aggregate earnings.
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