What Is the Term for Trying to Deal with New

question 133

Multiple Choice

What is the term for trying to deal with new situations in terms of existing mental structures

• A) rigidity 
• B) adaptation 
• C) accommodation 
• D) assimilation

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Definitions:

Marginal Cost

The cost of producing one additional unit of a good or service.

Marginal Revenue

The additional income that an organization receives from selling one more unit of a product or service.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing the financial gain exceeding the opportunity costs of resources.

MR = MC

An economic principle stating that the maximum profit occurs where marginal revenue equals marginal cost, guiding firms on the optimal level of output.