In the Short Run,costs That Arise from Resources That Cannot

question 47

Multiple Choice

In the short run,costs that arise from resources that cannot vary in quantity are known as ____________,whereas costs from inputs that can vary in quantity are known as ____________.

• A)fixed costs;variable costs
• B)explicit costs;implicit costs
• C)opportunity costs;variable costs
• D)fixed costs;opportunity costs
• E)variable costs;fixed costs

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Definitions:

Wason Selection Task

A logic puzzle that demonstrates the difficulty people have in testing rules in a rational or logical way, often used in the study of deductive reasoning.

Propositional Rule

A statement in logic that expresses a relationship between concepts through propositions or declarative sentences.

Prefrontal Cortex

The part of the frontal lobes of the brain located at the front of the frontal lobe, involved in complex behaviors such as planning, decision making, and moderating social behavior.

Phineas Gage

A historically significant case in the study of neuroscience and psychology, where a man survived a severe brain injury that dramatically changed his personality and behavior.