An Inventor for 3M,David Windorski,and a Team of Four College

question 190

Multiple Choice

An inventor for 3M,David Windorski,and a team of four college students,questioned dozens of students about how they study.They told the research team

• A) that Scotch tape had outgrown its usefulness to students.
• B) to make new products that were more environmentally friendly.
• C) that the average backpack was already too heavy.
• D) that it would be reasonable to put Post-it Flags together with a highlighter.
• E) to determine the ratio of sales for 3M products to the study aid products of other competitors.

Comprehend the concepts of short-run and long-run decision making in businesses.

Interpret cost curves, including average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC).

Understand the concept and calculation of marginal cost (MC).

Identify the conditions under which a business will continue to operate, shut down, or exit the industry.

---

Definitions:

Vocabulary

The range of words known and used by a person in a particular language.

40,000 Words

An often-cited milestone in child language acquisition, referring to the number of words a child is said to understand or use by a certain age, though the precise number can vary widely.

10,000 Words

Often referenced as the volume of vocabulary an individual should aim to understand or use to achieve fluency in a given language.

Logical Extension

A reasoning process in which conclusions are logically deduced from premises, expanding upon original ideas with rational coherence.