Hugo Munsterberg Was a Pioneer in the Field of Industrial

question 98

True/False

Hugo Munsterberg was a pioneer in the field of industrial psychology.

---

Definitions:

Variable Cost

Costs that change in proportion to the level of production or sales volume.

Average Total Cost

The average cost of producing one unit, determined by dividing the total production expenses by the quantity of products made.

Fixed Cost

Expenses that do not change as a function of the activity of a business, within the relevant period.

Marginal Cost

The cost of producing one additional unit of a product.