The Problem of Goals Becoming Too Difficult Is That _____

question 30

Multiple Choice

The problem of goals becoming too difficult is that _____.

• A)the goal may not be accepted by people
• B)individuals involved may become discouraged
• C)the goal may be abandoned
• D)all of the above
• E)answers a and c

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Definitions:

Average Variable Cost

The average amount of variable cost per unit, calculated by dividing total variable costs by the quantity of output.

Profit-Maximizing

The approach taken by an enterprise to ascertain the optimal price and output quantity for the highest profit.

MR = MC

A principle in economics stating that profit maximization occurs when marginal revenue equals marginal cost.

Perfectly Competitive Market

An economic theory describing a market where no individual buyers or sellers have the power to influence the price of a product, and where the products offered are homogenous, with no barriers to entry or exit for businesses.