When the Output Elasticity of Total Cost Is Less Than

question 82

Multiple Choice

When the output elasticity of total cost is less than one,

• A)Marginal cost is less than average cost and average cost decreases as Q increases.
• B)Marginal cost is less than average cost and average cost increases as Q increases.
• C)Marginal cost is greater than average cost and average cost decreases as Q increases.
• D)Marginal cost is greater than average cost and average cost increases as Q increases.

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Definitions:

Functionalism

A perspective in psychology that focuses on how mental and behavioral processes function to enable individuals to adapt to their environments.

Animal Training

The practice of teaching animals specific responses to specific conditions or stimuli, often used for companionship, service, or entertainment.

Emotional Reactions

The spontaneous and often unconscious responses to events or stimuli that involve feelings, physiological arousal, and changes in behavior.

Reaction Time

The amount of time it takes to respond to a stimulus.