From a Rational Choice/social Exchange Theory Perspective, Which of the Following

question 32

Multiple Choice

From a rational choice/social exchange theory perspective, which of the following describe how a functional, healthy family might look?

• A) All the children and the adults know that when threatened, they have someone who will be attentive and responsive to their needs.
• B) The boundaries between the parental acting as executives and the child(ren) is semi-permeable, such that when appropriate, the children can be part of decision making.
• C) The self-interests of each person in the family are being realized, such that being in the family is more rewarding than costly.

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Definitions:

Short Run

The short run is a period in economics where at least one factor of production is fixed, limiting the adjustments a firm can make to its inputs.

Average Variable Cost

The total variable cost divided by the quantity of output produced; it shows the cost of producing one more unit of output.

Short Run

A period in which at least one input in the production process is fixed, limiting the ability of the firm to adjust production.

Competitive Firm

A business operating in a market where it has little to no influence over the price of its product or service due to competition.