The Long-Run Average Cost of Producing 12 Units of Output

question 9

Multiple Choice

The long-run average cost of producing 12 units of output is $54; the long-run average cost of producing 13 units is $56. These numbers illustrate:

• A) economies of scale.
• B) diseconomies of scale.
• C) economies of scope.
• D) diminishing marginal productivity.

Grasp the basic concepts of evolutionary psychology and natural selection in psychological processes.

Differentiate between the roles and capabilities of clinical psychologists and psychiatrists.

Identify the various specialty areas within psychology and the settings in which psychologists commonly work.

Realize the influence of both individualistic and collectivistic cultural orientations on behavior and social norms.

---

Definitions:

Belonging

The feeling of being connected or related to a group, place, or community, satisfying the human need for inclusion and acceptance.

Pragmatism

A philosophical tradition that considers words and thought as tools and instruments for prediction, problem solving, and action.

Echo Boomers

Another term for Millennials, the demographic cohort following Generation X, born approximately between 1981 and 1996, known for their tech-savviness and impact on cultural and economic trends.

Generation Y

Also known as Millennials, the demographic cohort following Generation X, typically considered to be born between the early 1980s and the mid-1990s to early 2000s.