The Kind of Definition That Assigns a Meaning to a Word

question 8

Multiple Choice

The kind of definition that assigns a meaning to a word by indicating the attributes that the word connotes is:

• A) An enumerative definition.
• B) A demonstrative (ostensive) definition.
• C) A theoretical definition.
• D) An intensional definition.
• E) A definition by subclass.

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Definitions:

LRAC Curves

Long-Run Average Cost curves, which show the average cost per unit of output when all inputs, including capital, are variable, illustrating economies or diseconomies of scale.

Long-Run Adjustment

The process by which firms adjust their production capacity and input usage to new market conditions over time, beyond short-term fluctuations.

Returns To Scale

Rate at which output increases as inputs are increased proportionately.

Increasing Marginal Product

A situation where each additional unit of input results in an increased amount of output.