Assume Capital Is Fixed at 2 Units and the Wage

question 26

Short Answer

Assume capital is fixed at 2 units and the wage rate of labor is $200.
a. As labor is increased from 1 to 2 units, AVC ______ (rises, falls) from $______ to $______.
b. As labor is increased from 1 to 2 units, MC ______ (rises, falls) from $______ to $______.
c. As labor is increased from 3 to 4 units, AVC ______ (rises, falls) from $______ to $______.
d. As labor is increased from 3 to 4 units, MC ______ (rises, falls) from ______ to ______.

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Definitions:

Functionalists

Scholars or theorists who focus on the function or purpose of society and its institutions, often within the fields of sociology and psychology.

Behavior

The actions or reactions of an individual, group, or system in response to external or internal stimuli.

Organism Adapt

The process by which an organism changes over time in response to its environment to improve its survival and reproduction chances.

Structuralists

Early psychologists who analyzed the basic elements of thoughts and sensations to determine the structure of conscious experience.