People Who Become Members of Interest Groups for Material Incentives

question 44

Multiple Choice

People who become members of interest groups for material incentives are joining

• A) for a sense of belonging to the group.
• B) to improve their economic opportunities or gain economic benefits.
• C) for ethical beliefs or ideological reasons.
• D) to institute change for political, economic, or social impact on the whole society.
• E) because they have been pressured to do so.

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Definitions:

AVC

Average Variable Cost, the variable cost per unit of output.

MC

Marginal Cost, the increase in cost that arises from producing one additional unit of a good or service.

Fixed Costs

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

AVC

Stands for Average Variable Cost, which is the total variable costs divided by the quantity of output produced.