The Best Definition of Learning Is

question 21

Multiple Choice

The best definition of learning is:

• A) a conditioned response to a repetitive stimulus.
• B) a long-term change in behavior due to experience.
• C) a trial and error response to negative feedback.
• D) the ability to ignore unwanted or irrelevant stimuli.
• E) communication with another member of a society for mutual benefit.

Understand the principles of cost behavior and how it impacts managerial accounting.

Identify and define variable, fixed, and mixed costs.

Analyze how variable and fixed costs affect the financial operations of a business.

Grasp the importance of choosing the appropriate activity base for costs.

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Definitions:

Long-run Average Total Cost

The cost per unit of output incurred when all factors of production, including physical capital, are variable.

Minimum Efficient Scale

The smallest level of production at which a firm can achieve the lowest long-run average total costs.

Constant Returns to Scale

A situation in which the proportionate increase in inputs leads to an equal proportionate increase in outputs, meaning costs and outputs scale equally as production expands.

Diseconomies of Scale

A situation where a business's cost per unit increases as it produces more items, due to inefficiencies that arise with scaling up production.