In the Short-Run, a Firm's Supply Curve Is Equal to the

question 354

Multiple Choice

In the short-run, a firm's supply curve is equal to the

• A)marginal cost curve above its average variable cost curve.
• B)marginal cost curve above its average total cost curve.
• C)average variable cost curve above its marginal cost curve.
• D)average total cost curve above its marginal cost curve.

Describe the process and importance of scaffolding in Vygotsky's theory.

Identify the significance of private speech in cognitive development according to Vygotsky.

Understand Jean Piaget's stages of cognitive development and how they apply from birth through adulthood.

Identify and critique key aspects of Vygotsky's theory, including the concept of scaffolding.

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Definitions:

Sunk Costs

Costs that have already been incurred and cannot be recovered, and thus should not factor into future decision making.

Sunk Cost

Costs that have already been incurred and cannot be recovered or changed.

Make or Buy

A decision-making process in which a company chooses between manufacturing a product internally or purchasing it from an external supplier.

Significant Sunk Costs

Expenses that have already been incurred and cannot be recovered or changed.