What Is One Type of Intellectual Standard That Universally Applies

question 16

Multiple Choice

What is one type of intellectual standard that universally applies to critical thinking?​

• A) ​humility
• B) ​confidence
• C) ​accuracy
• D) ​fairness
• E) ​curiosity

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Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, as the cost per unit of output decreases with increasing scale.

Diseconomies of Scale

A condition where a firm experiences increasing production costs and decreasing returns as it becomes too large.

Production Function

An economic model that describes the relationship between inputs used in production and the output of goods or services.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.