For Those People Who Think They Need Some Sort of Psychological

question 65

Multiple Choice

For those people who think they need some sort of psychological counseling but don't feel they have the time,the Internet offers

• A) Random demand fluctuation
• B) Relative demand shift
• C) Predictable demand cycle
• D) Vertical demand configuration
• E) Organized demand pattern

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Definitions:

Average Product of Labor

The output produced, on average, by one unit of labor, such as one worker or one hour of work.

Marginal Product of Labor

The additional output produced as a result of employing one more unit of labor.

Economies of Scale

The cost advantages that a business obtains due to expansion, where the average cost per unit of output decreases with increasing scale.

Diseconomies of Scale

The situation where long-run average costs start to increase as the scale of operation grows beyond a certain point, leading to increased per-unit costs.