In the Short Run, Average Total Cost Is

question 331

Multiple Choice

In the short run, average total cost is

• A) higher than average variable cost.
• B) equal to average variable cost.
• C) less than average variable cost.
• D) sometimes higher and sometimes lower than average variable cost.

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Definitions:

Habituation

A decrease in behavioral response after lengthy or repeated exposure to a stimulus.

Conditioning

A process of behavior modification in which a response becomes more frequent or more predictable in a given environment due to reinforcement.

Sensitization

The process whereby a repeated administration of a stimulus results in the progressive amplification of a response.

Operant Conditioning

An educational method where the intensity of an action is altered through either rewards or penalties.