When a Firm Produces More Output Using the Same Inputs

question 220

Multiple Choice

When a firm produces more output using the same inputs or the same output using fewer inputs we say that the firm

• A)experiences an increase in demand.
• B)experiences positive technological change.
• C)will hire more workers in order to produce more output.
• D)is operating in the short run.

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Definitions:

False Consensus Effect

A cognitive bias whereby people tend to overestimate the extent to which their beliefs or opinions are typical of those of others.

Freud's Concept

Ideas and theories developed by Sigmund Freud that focus on the unconscious mind, psychosexual stages, and the significance of dreams.

Projection

A defense mechanism where individuals attribute their own unacceptable feelings, desires, or thoughts to someone else.

MMPI

Minnesota Multiphasic Personality Inventory, a standardized psychometric test used for psychiatric diagnosis and personality assessment.