Review Table 8

question 9

Essay

Review Table 8.2 Patterns of Commitment on page 201 in the text which draws on the work of Pahl and Spencer (2004)to suggest some differences between given and chosen relationships and their levels of emotional commitment.Choose three or four of the relationship types from the table,and write a brief paragraph for each relating the ways that this is a given or a chosen relationship.Can a relationship be both given and chosen?

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Definitions:

Total Fixed Cost

The sum of all costs that remain constant regardless of the level of production or output.

Total Revenue

The overall amount of money generated by a firm from its sales activities before any expenses are subtracted.

Marginal Cost Curve

It illustrates the change in total cost that arises when the quantity produced is incremented by one unit; this is the cost of producing one additional unit of a good.

Short-Run Supply

The supply provided by firms in the short term when at least one input, usually capital, is fixed.