The table given below shows the average total cost of production of a firm at different levels of the output.Table 8.5
-A positively sloped long run average cost implies:
Definitions:
Behavioral Contrast
A phenomenon where the rate of response varies in accordance with a change in the reinforcement provided in an alternate situation.
Matching Law
A principle that states that the proportion of responses directed towards alternatives is equal to the proportion of reinforcements obtained from those alternatives.
Reinforcement
A process in behaviorism where a behavior becomes more likely to occur in the future due to the consequences that follow the behavior.
Matching Law
A principle stating that the proportion of responses on a particular option matches the proportion of reinforcements received for that option.
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