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You spend days wandering aimlessly around a park with many different paths that end at different parts of the park.One day when you arrive at the park you get a call on your cell phone from your cousin whom you haven't seen for years,and she says she is waiting for you in a particular section of the park.Even though the paths are complicated and twisted,you manage to find the shortest route to your cousin.Tolman would explain your efficient passage through the park as an example of:
Average-Fixed-Cost Curve
A graphical representation that shows the fixed costs of production per unit of output declining as the quantity of output increases.
Marginal-Cost Curve
A graphical representation that shows the cost of producing one more unit of a good.
Average-Total-Cost Curve
A graphical representation showing how the average total cost of production changes as the quantity of output is altered.
GPA
Grade Point Average, a measure of a student's academic achievement at a college or university, calculated as a numerical average of grades.
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