If at an Output of 4,000 Units, Sloan Company Is

question 51

Multiple Choice

If at an output of 4,000 units, Sloan Company is making an economic profit and marginal profit is $20 per unit, the firm should

• A)reduce output to maximize total profit.
• B)increase output until marginal profit falls to zero.
• C)do whatever is necessary to increase marginal profit.
• D)There is not enough information to make a decision.

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Definitions:

World Population

The total number of living humans on Earth at a given time, which influences global markets, resources demand, and economic dynamics.

Alternating Treatments Design

A method for graphing behavioral observations that permits analysis of the differential effectiveness of more than one intervention on a target behavior. Unlike the changing conditions design, in which interventions are introduced consecutively, one intervention is rapidly substituted for another, sometimes on a session-to-session basis.

Changing Conditions Design

A method of graphing behavioral observations used to determine the effectiveness of two or more interventions to positively affect a target behavior. A refers to the baseline, B designates the intervention, and C designates the application of a second intervention. In a changing conditions design, different interventions are implemented consecutively without ever returning to baseline conditions. Sometimes called an ABC design.

Intervention

A strategic action or process aimed at altering a situation or condition, usually to improve it or prevent undesired outcomes.