William Is Considered by His Friends to Be Very Empathetic

question 83

Short Answer

William is considered by his friends to be very empathetic because he has the ability to "put himself into others' shoes" and see things from their perspectives.What is the formal term for this ability?

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Definitions:

Average Product

The output produced per unit of input, calculated by dividing total output by the number of units of a specific input.

Marginal Product

The boost in output stemming from an increment in input by one unit.

Wage

The payment received by workers for their labor, typically expressed as an amount per hour or per year.

Factor Markets

Markets where services of the factors of production (labor, capital, land) are bought and sold.