Who Proposed a Theory That Human Needs Progress Through a "Pyramid

question 53

Multiple Choice

Who proposed a theory that human needs progress through a "pyramid" of successive levels of needs?

• A)Frederick Herzberg
• B)Abraham Maslow
• C)Herbert Simon
• D)Paul Simon

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Definitions:

Long Run

A period of time in which all factors of production and costs are variable, allowing all inputs to be adjusted.

Zero Economic Profit

A situation where total revenues are exactly equal to total costs, indicating no supernormal profit beyond the normal rate of return.

Marginal Cost

The increase in total production cost that comes from making or producing one additional unit of a good.

Excess Capacity

A scenario where a firm's actual production is less than its maximum potential output, often leading to inefficiencies and higher costs.