The table given below shows the total fixed and variable costs of a firm. Table 7.3
- In Table 7.3,the average fixed cost of the first unit of output is ____ while the average fixed cost of producing 8 units of output is ____.
Definitions:
Self-Fulfilling Prophecy
Creating or finding in a situation that which one expected to find in the first place.
Pygmalion Effect
A psychological phenomenon where higher expectations lead to an increase in performance.
Halo Effects
A cognitive bias where an observer's overall impression of a person, company, brand, or product influences feelings and thoughts about that entity's character or properties.
Performance Appraisal
The assessment of an employee's job performance and productivity, typically for purposes of performance feedback, development, or evaluation.
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