According to Blau and Duncan,stratification in America Is Based Mainly

question 40

Multiple Choice

According to Blau and Duncan,stratification in America is based mainly on:

• A)inheritance
• B)individual achievement
• C)luck
• D)social networks
• E)none of these choices

Understand the law of diminishing returns and its implications for production and costs.

Identify the shapes and relationships among the ATC, AVC, and AFC curves.

Distinguish between short-run and long-run operational decisions in terms of costs and inputs.

Understand the principle of spreading overhead and how output level affects average fixed costs.

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Definitions:

Concrete Operational

A stage in Piaget’s theory of cognitive development, occurring between 7 and 11 years of age, where children gain a better understanding of concrete logic and physical objects.

Formal Operational

The stage in Piaget's theory of cognitive development where individuals gain the ability to think abstractly and reason logically.

Abstract

A short summary of a research article, thesis, review, or other in-depth analysis, highlighting the main points and conclusions.

Logic

The science of correct reasoning, particularly as it involves the structure of arguments and the principles that lead to valid conclusions.