Based on Your Reading and Your Critical Thinking Skills,explain the Use

question 32

Essay

Based on your reading and your critical thinking skills,explain the use of IQ testing in the United States.Give your informed,academically sound opinion as to whether or not you think IQ testing is useful.

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Definitions:

ATC

Average Total Cost, the total cost of production divided by the number of units produced, representing the average cost per unit of output.

Profit-Maximizing Rule

A principle that states a firm reaches its highest profit when its marginal cost equals its marginal revenue.

Marginal Revenue

The revenue increase from the sale of one more unit of a product or service.

Marginal Cost

is the increase in total cost that arises from producing one additional unit of a product or service.