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When Michael signs on Stanley for the company basketball team, he assumes that Stanley is a good player because he is African-American.Which of the following is Michael exhibiting in signing Stanley?
Factor Prices
The prices paid for the use of factors of production such as land, labor, and capital, which influence cost of production and economic decisions.
Output Increases
A situation where the production volume of goods or services in a company, industry, or economy rises, often due to higher demand, improved efficiency, or technological advancements.
Average Total Cost
The total cost of production divided by the quantity of output produced, representing the per-unit cost of production.
Total Cost
The aggregation of all costs, both fixed and variable, incurred by a business in producing a specific quantity of goods or services.
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