Richard Walton's Principle "Diffuse or Die" Means That If Diffusion

question 177

True/False

Richard Walton's principle "diffuse or die" means that if diffusion does not occur, the pilot project and its leaders become more and more isolated.

---

Definitions:

MC

Short for Marginal Cost, it refers to the increase in total cost that arises from producing one additional unit of a good or service.

Minimum ATC

The point at which the average total cost of production is at its lowest, indicating the most efficient scale of production.

Demand Schedule

A table of numbers showing the amounts of a good or service buyers are willing and able to purchase at various prices over a specified period of time.

Economic Profit

The difference between total revenue and total cost, including both explicit and implicit costs.