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The next three questions relate to the following scenario: Erica is planning a large surprise party for her best friend. She has developed the plan below which includes estimates of the time in hours) and cost necessary to perform each of the activities required.
-Erica's internet-based business pays her about $40 per hour. Therefore, for every hour she works on this party project, she will experience a lost opportunity cost of $40. She would initially like to test the idea of reducing project duration by one hour. Which activity should she crash first?
Decrease
A reduction in quantity, size, intensity, or the importance of something.
Tequila
A distilled beverage made from the blue agave plant, primarily in the area surrounding the city of Tequila, Mexico, known for its strong flavor and alcoholic content.
Classical Conditioning
An educational procedure in which the frequent pairing of two stimuli causes a response initially triggered by the second stimulus to be eventually triggered by the first stimulus alone.
Aversive
Refers to an unpleasant stimulus that induces changes in behavior.
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