A Judgment of How Probable Something Is to Occur Is

question 86

Multiple Choice

A judgment of how probable something is to occur is known as a(n)

• A) randomizer process.
• B) conjunctive process.
• C) differential network.
• D) motivational insight.
• E) estimation of likelihood.

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Definitions:

Marginal Product

The increase in output that results from employing one more unit of a particular input, keeping all other inputs constant.

Diminishing Marginal Returns

is an economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, begins to decrease.

Variable Resource

A resource whose quantity can change in the short run to increase or decrease production levels.

Fixed Resource

A resource whose quantity cannot easily be changed in the short term, such as land, buildings, or equipment.