A Restaurant Sells a Large Soft Drink at a Fixed

question 151

Multiple Choice

A restaurant sells a large soft drink at a fixed price of $1.79.A term used by economists to describe the money received from the sale of an additional large soft drink is

• A)marginal revenue.
• B)gross earnings.
• C)pure profit.
• D)net benefit.

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Definitions:

Irreversibility

A cognitive limitation in young children's thinking, where they are unable to understand that an action can be done and undone.

Internalized Sets

Concepts, beliefs, or ways of thinking that have been fully absorbed into one's mindset and influence behavior and decision-making.

Operations

Mental actions that are reversible and allow children to do mentally what they previously did physically, a key concept in cognitive development theory.

Schemas

Cognitive structures that organize knowledge and guide information processing, based on themes or subjects.