A Profit-Seeking Firm Will Choose the Combination of Inputs That

question 67

Multiple Choice

A profit-seeking firm will choose the combination of inputs that maximizes profit, based on the:

• A)ratio of one factor of production to another.
• B)substitutability of each factor of production.
• C)price of each factor of production.
• D)total productivity of each factor of production.

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Definitions:

Essentialist Arguments

Arguments based on the belief that certain traits, behaviors, or attitudes are innate and fundamental to a particular group or identity, often used in discussions of gender, race, and ethnicity.

Sociobiologists

Scientists who study the biological basis of all forms of social behavior across species, including humans, often focusing on the evolutionary aspects.

Evolutionary Psychologists

Researchers who study human behavior, mind, and traits as adaptations shaped by evolutionary processes.

Freud

Sigmund Freud, an Austrian neurologist and the founder of psychoanalysis, a method for treating psychopathology through dialogue between a patient and a psychoanalyst.