Which of the Following Educational Activities Is an Example of In-Service

question 19

Multiple Choice

Which of the following educational activities is an example of in-service education?

• A) A workshop given at a nursing convention on malpractice
• B) A program on new cardiac medications provided at a local hospital
• C) Credit courses in communication offered at the community college
• D) Noncredit courses on nursing issues available through the internet

Explain the significance of economic profits, normal profits, and losses to firm behavior and industry entry or exit.

Relate changes in input prices to shifts in a firm's marginal cost curve and industry supply curve.

Illustrate the concept of marginal cost and its relevance to firm production decisions.

Comprehend the impact of economies and diseconomies of scale on firm costs.

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Definitions:

Nonrivalry

The idea that one person’s benefit from a certain good does not reduce the benefit available to others; a characteristic of a public good.

Nonexcludability

The inability to keep nonpayers (free riders) from obtaining benefits from a certain good; a characteristic of a public good.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning their use by one person does not reduce availability to others.

Consumption Goods

Products and services that are consumed by the ultimate consumer and do not serve as input for the production of other goods or services.