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The Wacky Widget company has total fixed costs of $100,000 per year. The firm's average variable cost is $10 for 10,000 widgets. At that level of output, the firm's average total costs equal
Condition Monitoring
The practice of monitoring the condition of machinery or equipment, using various techniques to prevent failure and maintain operational efficiency.
Weaken a Behavior
The process of reducing the frequency or intensity of an undesired behavior, often through negative reinforcement or punishment.
Extinction
In behavioral psychology, the gradual weakening and eventual disappearance of a learned response following the cessation of reinforcement.
Reinforcement
In psychology, a process of encouraging or establishing a pattern of behavior by offering rewards or punishing unwanted behavior.
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