Production Units Have an Optimal Rate of Output Where

question 126

Multiple Choice

Production units have an optimal rate of output where:

• A)total costs are minimum.
• B)average unit costs are minimum.
• C)marginal costs are minimum.
• D)rate of output is maximum.
• E)total revenue is maximum.

---

Definitions:

Diffusion of Responsibility

A psychological phenomenon in which individuals in a group are less likely to take action or feel responsible because the presence of others is seen to dilute personal responsibility.

Just World Hypothesis

The belief that the world is fundamentally fair, leading people to rationalize an undeserved, bad outcome as deserved.

Moral Foundation Theory

A social psychological theory that describes the origins of human moral reasoning on the basis of innate, modular foundations.

Moral Decisions

Decisions that involve the judgment of right or wrong, often based on a set of societal or personal ethical principles.