Suppose That the Market for Haircuts in a Community Is

question 139

Multiple Choice

Suppose that the market for haircuts in a community is perfectly competitive and that the market is initially in long-run equilibrium.Subsequently,a decrease in population decreases the demand for haircuts.In the short run,we expect that the market price will _____ and the output of a typical firm will _____.

• A)rise;rise
• B)rise;fall
• C)fall;rise
• D)fall;fall

Understand the concept of social dilemmas and how they impact individual decision-making within groups.

Recognize the importance of entitativity in determining the cohesiveness of a group.

Identify the effects of ingroup bias and outgroup homogeneity on group dynamics.

Grasp the evolutionary rationale for why individuals affiliate with groups.

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Definitions:

Elected President

An individual who has been formally chosen through a voting process to hold the presidential office in a nation or organization.

Republic

A form of government in which power resides with elected individuals representing the citizen body and government leaders exercise power according to the rule of law.

Sitting on a Man

A traditional form of protest among the Igbo people, where women publicly shame a man to settle grievances.

Igbo Women

Female members of the Igbo people, an ethnic group primarily located in southeastern Nigeria, with distinct social, cultural, and historical identities.