Behavior That Benefits Another with the Expectation That Those Benefits

question 233

Multiple Choice

Behavior that benefits another with the expectation that those benefits will be returned in the future is called:

• A)normative influence.
• B)reciprocal altruism.
• C)social exchange.
• D)reverse altruism.

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Definitions:

Total Cost

The aggregate amount of expenses that a company or individual incurs to produce or acquire goods or services.

Short-run Supply Curve

A graphical representation showing the relationship between the price of a good or service and the quantity supplied over a short period, during which at least one input is fixed.

Break-even Point

The point at which total cost and total revenue are equal, meaning there is no net loss or gain.

Long-run Supply Curve

A graphical representation showing the relationship between the price of a good and the total output produced by firms in the market in the long-run, where all inputs can be varied.