If Everyone Who's Faced with a Similar Situation Responds in the Same

question 20

Multiple Choice

If everyone who's faced with a similar situation responds in the same way, we can say the behavior shows ________.

• A) reliability
• B) consistency
• C) consensus
• D) internal attribution

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Definitions:

Marginal Revenue

The increased income derived from the sale of one extra unit of a good or service.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit.

MC > MR

A condition where Marginal Cost (MC) is greater than Marginal Revenue (MR), suggesting that producing additional units of a good will not increase profits and may reduce them.

Profit

The financial gain realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity.