Bob Is Four Years Old and Now Understands That His

question 90

Multiple Choice

Bob is four years old and now understands that his name represents him. He gets very upset when his sister calls him "Bob the blob." Bob is in the _____ stage of cognitive development.

• A) preoperational
• B) sensorimotor
• C) formal operational
• D) concrete operational

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Definitions:

Total Fixed Costs (TFC)

The sum of all costs that remain constant regardless of the level of production or output in the short run.

Average Fixed Cost

The fixed costs of production divided by the total units of output, which decreases as production increases.

Total Cost

The complete cost of production, combining both fixed and variable costs.

Total Variable Cost

Total Variable Cost is the sum of all costs that vary with the level of production, such as materials and labor directly involved in the production.