A Decrease in the Price of a Fixed Factor of Production

question 486

Multiple Choice

A decrease in the price of a fixed factor of production decreases total cost and

• A) increases marginal cost.
• B) leaves marginal cost unchanged.
• C) decreases marginal cost.
• D) increases variable cost.

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Definitions:

Overeating

The act of consuming food in quantities greater than the energy expenditure of the individual, which could lead to weight gain.

Oral Stage

The first stage in Freud's psychosexual development, occurring in the first year of life, centered on the pleasures and frustrations associated with the mouth.

Erikson's Second Stage

This stage, known as Autonomy vs. Shame and Doubt, focuses on toddlers developing a sense of personal control over physical skills and a sense of independence.

Autonomy

The capacity and right of individuals to make their own choices and decisions independently.