Carrying and Using a High-End Credit Card Like an American

question 327

Multiple Choice

Carrying and using a high-end credit card like an American Express Centurion Card would satisfy needs at what level in the Maslow hierarchy of needs?

• A) physiological
• B) personal
• C) interaction
• D) social
• E) psychological

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Definitions:

Law of Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain at a constant.

Average Total Costs

The cost of producing each unit, calculated by dividing the overall production expense by the number of units produced.

Average Variable Costs

The total variable costs of production divided by the number of units produced, highlighting how variable costs change with output levels.