The Following Figure Shows the Impact of Technological Change on the Marginal

question 6

Multiple Choice

The following figure shows the impact of technological change on the marginal cost of producing a certain good.With MC₁ the total cost of producing Q* units is equal to ________.

• A)areas a + b + c
• B)areas b + c
• C)area b
• D)area c

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Definitions:

Negative Reinforcement

A behavioral psychology concept where the removal of an unfavorable event or outcome after the display of a behavior increases the likelihood of that behavior being repeated in the future.

Punishment

The imposition of a penalty or undesirable consequence on an individual or animal in order to decrease the likelihood of a behavior occurring again.

Secondary Reinforcement

A concept in behaviorism where a stimulus reinforces a behavior not because it satisfies a biological need, but because it is associated with a primary reinforcer.

Praise

The expression of approval, commendation, or admiration towards someone or something.