Many Parents Play the "What Do You Want to Be

question 73

Multiple Choice

Many parents play the "What do you want to be when you grow up?" game with their children. Perhaps they don't realize that this question, in Erikson's theory, helps preschoolers develop a sense of

• A) initiative.
• B) industry.
• C) autonomy.
• D) basic trust.

---

Definitions:

Profit-Maximizing Level

The output level at which a firm achieves the highest profit, where marginal revenue equals marginal cost.

Average Total Costs (ATC)

A rephrasing of Average Total Cost, it calculates the per-unit production cost by dividing the total cost by the total quantity of goods produced.

Manufacturing Firm

A business that uses components, parts, or raw materials to make a finished good.

Marginal Cost

The cost of producing one additional unit of a product or service, used in economics to determine the optimum production level.