Chris Is a Playground Bully

question 12

Multiple Choice

Chris is a playground bully. He finds that he can win the admiration of his peers by acting aggressively. Chris's aggressive behavior is encouraged by

• A) positive reinforcement.
• B) negative reinforcement.
• C) positive punishment.
• D) negative punishment.

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Definitions:

Marginal Revenue

The additional income received from selling one extra unit of a product or service.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.

Profit-Maximizing

A strategy firms adopt aiming to produce the quantity of goods or services that leads to the highest possible profit.

Average Variable Cost

The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.