Suppose You Are Deciding Whether or Not to Increase Production

question 138

Multiple Choice

Suppose you are deciding whether or not to increase production. If you produce one more unit your increase in cost will be $10, your average variable costs will increase to $9.50 and your average fixed costs will decrease. Finally, price you are able to charge will be $9. You should

• A)Increase production by at least 1 unit.
• B)Increase production by exactly 1 unit.
• C)Leave production unchanged, profit is maximized where you are.
• D)Shut down

Understand different types of adoption processes and their psychological effects.

Examine the reasons behind the trend of delaying parenthood.

Understand the dynamics of child adoption and foster care systems.

Discuss the impact of economic factors on decisions regarding parenthood.

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Definitions:

Implicit Social Norm

Unwritten rules within a society or group that dictate acceptable behavior without directly stating them.

Enduring Mental Representation

Cognitive constructs that allow individuals to hold information in their mind over time, forming the basis of learning and cognition.

Sternberg's Triangular Model

A theory of love proposed by Robert Sternberg, which suggests that love has three components: intimacy, passion, and commitment.

Intimacy

A close, familiar, and usually affectionate or loving personal relationship with another person or group.