The Use of an Analogy __________

question 74

Multiple Choice

The use of an analogy __________.

• A) is automatic; people use analogies in problem solving whenever they are available
• B) is not always useful unless the problem solver is aware that the analogy is pertinent to the task at hand
• C) works much better for novices than for experts
• D) works better if there is only one potential analogy in memory than if there are two or more

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Definitions:

Marginal Revenue

The additional revenue that will be generated by increasing product sales by one unit.

Output

Output refers to the quantity of goods or services produced by a company, industry, or economy within a certain period.

Nondiscriminating Monopolist

A monopolist that charges the same price to all consumers for its product, regardless of demand differences.

Elastic

Refers to the responsiveness of the demand or supply of a good or service to changes in its price.