The Psychological Situation, Expectancy, and Reinforcement Value Are Important Concepts

question 260

Multiple Choice

The psychological situation, expectancy, and reinforcement value are important concepts in the theory proposed by

• A)Julian Rotter.
• B)Carl Rogers.
• C)Alfred Adler.
• D)Erich Fromm.

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Definitions:

Normal Profit

The minimum level of profit necessary for a company to remain competitive in the market, often considered the break-even point.

Marginal Cost

Marginal cost is the increase in total cost that arises from producing one more unit of a good or service. It is a critical concept in economics for decision-making regarding production levels.

Purely Competitive Market

A market structure characterized by many buyers and sellers, all of whom are selling a homogeneous product, with no single buyer or seller able to influence the market price.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing excess return over perfect competition.