Which of the Following Is True About Norms

question 39

Multiple Choice

Which of the following is true about norms?

• A) They are clear-cut rules about behavior in society
• B) They are created by society
• C) They tend not to vary based on different circumstances
• D) They are evaluations of conduct, but not expectations or predictions of conduct

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Definitions:

Short-Run Cost Function

A representation of how total production costs change with output levels in the short term, when some factors are fixed.

Quasi-Fixed Costs

Costs that are not directly variable with the level of output but can change over time with scale of operations, such as salaries for permanent staff.

Positive Output

Production of goods or services in a quantity that exceeds zero.

Short-Run Cost Function

A mathematical relation describing how production costs change with output levels over a short period, where some inputs are fixed.