"Diminishing Marginal Returns" Refer to a Situation in Which the

question 24

Multiple Choice

"Diminishing marginal returns" refer to a situation in which the

• A) average product of the next worker hired is less than the average product of the previous worker hired.
• B) marginal product of the next worker hired is less than the marginal product of the previous worker hired.
• C) average cost of the next worker hired is less than the average cost of the previous worker hired.
• D) marginal cost of the next worker hired is less than the marginal cost of the previous worker hired.

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Definitions:

Abraham Maslow

An American psychologist known for creating Maslow's hierarchy of needs, a theory of psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.

Cognitive Perspective

A psychological approach that emphasizes mental processes in perception, memory, language, problem solving, and other areas of human cognitive function.

Consciousness

The state of being aware of and able to think about one's own existence, sensations, thoughts, surroundings, etc.

Science

A systematic enterprise that builds and organizes knowledge in the form of testable explanations and predictions about the universe.