Little 15-Month-Old Jeanie Has Already Developed Several Concepts

question 100

Multiple Choice

Little 15-month-old Jeanie has already developed several concepts.Researchers have found that Jeanie has formed concepts as a result of:

• A) parental competence
• B) genetic makeup
• C) personality disposition
• D) experience with objects and her growing ability to use language

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Definitions:

Diminishing Returns

A principle stating that as more of a variable input is combined with a fixed input, the incremental gains in output will eventually decrease.

Increasing Returns

This refers to a scenario in economics where, as the quantity of input increases, the rate of output increases at a faster rate, leading to economies of scale.

Long-Run Total Cost

The aggregate cost of production when all factors of production are variable and the scale of operation can change.

Units of Variable K

In economics, this refers to units of a variable factor of production (K often denotes capital), where the quantity can be changed in the short run to increase or decrease production.