The Shape of the Short-Run Average Cost Curve Shows That

question 89

Multiple Choice

The shape of the short-run average cost curve shows that the average cost _____.

• A) rises first and then falls as output expands
• B) is constant over all levels of output
• C) falls first and then rises as output expands
• D) is increasing over all levels of output

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Definitions:

Learning Mechanism

Processes through which individuals acquire new knowledge, skills, behaviors, or values, often through observation, experience, or instruction.

Classical Conditioning

A learning process that occurs through associations between an environmental stimulus and a naturally occurring stimulus.

Operant Conditioning

A learning process through which the strength of a behavior is modified by reinforcement or punishment.

Learned Helplessness

A belief that nothing one does matters, derived from an experience of random or unpredictable reward and punishment, and theorized to be a basis of depression.