Suppose the Short-Run Production Function Is Q = 10 ∗

question 122

Multiple Choice

Suppose the short-run production function is q = 10 ∗ L.If the wage rate is $10 per unit of labor,then AVC equals

• A) q.
• B) q/10.
• C) 10/q.
• D) 1.

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Definitions:

Concrete Operational

A stage in Jean Piaget's theory of cognitive development during which children gain the abilities of conservation (understanding that quantities remain the same despite changes in shape or appearance) and logical thought about physical objects and their properties.

Assimilation

A cognitive process in Piaget's theory where individuals integrate new information into preexisting knowledge frameworks.

Mental Structures

Conceptual frameworks or cognitive constructs that are used to organize and interpret experiences and information.

Preoperational Stage

A stage in Jean Piaget's developmental theory of childhood, from about ages 2 to 7, where children begin to engage in symbolic play but lack the ability to perform operations or think logically.