If a Firm Wanted to Know How Much It Would

question 89

Multiple Choice

If a firm wanted to know how much it would save by producing one less unit of output, it would look to

• A)MC.
• B)ATC.
• C)AVC.
• D)AFC.

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Definitions:

Positive Reinforcement

The addition of a rewarding stimulus following a desired behavior, making it more likely that the behavior will occur again.

Contingency

Describes a future event or circumstance that is possible but cannot be predicted with certainty.

Operant Conditioning

A learning process in which the strength of a behavior is modified by its consequences, such as reward or punishment.

Extinction

Within the field of psychology, a conditioned response gradually fades and ultimately vanishes.