The Average-Total-Cost Curve Is Unaffected by Diminishing Marginal Product

question 209

True/False

The average-total-cost curve is unaffected by diminishing marginal product.

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Definitions:

Difference Threshold

The smallest change in stimulation that can be noticed by an individual half of the time, also referred to as the "just noticeable difference" (JND).

Applied Of Fechner's Law

The practical application of Fechner's principle, which relates the intensity of a physical stimulus to the intensity of the sensation it produces.

Weber Fraction

A psychological principle that quantifies the perception of change in a given stimulus proportionate to the original intensity of the stimulus.

Just-Noticeable Difference

The smallest difference in stimulus intensity that a specific sense can detect.