Table 3-6 Assume That Maya and Miguel Can Switch Between Producing Mixers

question 45

Multiple Choice

Table 3-6
Assume that Maya and Miguel can switch between producing mixers and producing toasters at a constant rate.

-Refer to Table 3-6.We could use the information in the table to draw a production possibilities frontier for Maya and a second production possibilities frontier for Miguel.If we were to do this,measuring toasters along the horizontal axis,then

• A) the slope of Maya's production possibilities frontier would be -1.6 and the slope of Miguel's production possibilities frontier would be -2.
• B) the slope of Maya's production possibilities frontier would be -0.625 and the slope of Miguel's production possibilities frontier would be -0.5.
• C) the slope of Maya's production possibilities frontier would be 0.625 and the slope of Miguel's production possibilities frontier would be 0.5.
• D) the slope of Maya's production possibilities frontier would be 1.6 and the slope of Miguel's production possibilities frontier would be 2.

Understand the historical development of psychology as a discipline.

Understand the origins and significant historical developments in psychology.

Recognize key figures in psychology and their contributions to the field.

Distinguish between various schools of thought within psychology.

---

Definitions:

Diminishing Returns

A principle stating that as additional amounts of a variable input are added to a fixed input, beyond some point the marginal product of the variable input begins to decrease.

Unit of Labor

A measure of labor input, often represented by one worker or one hour of work, used to calculate productivity or costs.

Marginal Cost

The price of fabricating another unit of a good or service.

Total Cost

The sum of all costs incurred in the production of goods or services, including fixed and variable costs.