(Figure: Price and Quantity IX) What Could Have Caused the Supply

question 46

Multiple Choice

(Figure: Price and Quantity IX) What could have caused the supply and average variable cost curves to shift outward?

• A) a decrease in average fixed costs
• B) a decrease in wages
• C) an increase in input prices
• D) an increase in rental payments or property taxes

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Definitions:

Intrinsic Rewards

Rewards that come from within an individual, such as personal satisfaction or joy from performing an activity.

Extrinsic Rewards

Benefits or incentives given to motivate behavior that are external to the task itself, such as money, grades, or accolades.

ERG Theory

A motivational theory proposed by Clayton Alderfer that categorizes human needs into existence, relatedness, and growth categories.

Satisfied Needs

The condition of having one's basic or specific desires fulfilled or met.