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Reciprocal determinism suggests that human development reflects an interaction among three key elements.Identify these three elements and provide an example that illustrates the notion of reciprocal determinism in development.
Marginal Cost Curve
A graphical representation showing the increase in total cost that arises from producing one additional unit of a good or service.
Industry Supply
The total quantity of a good or service that all producers in a market are willing and able to sell at various prices.
External Benefits
Positive effects of a production or consumption activity on individuals or society who are not directly involved in the transaction.
Subsidizing Production
Financial assistance provided by the government or other institutions to reduce the cost of producing goods or services and encourage increased output.
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