A Friend Has Just Told You His Cell Phone Number

question 70

Multiple Choice

A friend has just told you his cell phone number, and you repeat it to yourself several times as you search for a pen to record it. The technique you are using to remember the number is called

• A) rehearsal.
• B) the serial position effect.
• C) release from proactive interference.
• D) the working-memory approach.

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Definitions:

Marginal Revenue

The increase in total revenue that results from selling one additional unit of a product.

Average Revenue

The revenue generated per unit of output sold, calculated by dividing total revenue by the quantity of outputs sold.

Total Revenue

The overall amount of money earned by a business for its products or services before any costs or expenses are subtracted.

Marginal Cost

The increase in total cost that arises from producing an additional unit of output, crucial for decision-making in production.