In a Situation the Presence of Others Takes the Responsibility

question 16

Multiple Choice

In a situation the presence of others takes the responsibility from the individual. Latané calls this:

• A) diffusion of responsibility
• B) obedience to authority
• C) social facilitation
• D) pluralistic ignorance

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Definitions:

Profit-maximizing

A strategic objective of businesses where they aim to achieve the highest possible profit from their operations.

Pure Monopolist

A single seller in a market who has complete control over the supply of a product or service, with no close substitutes available, leading to significant market power.

Economic Inefficiency

A situation where resources are not optimally allocated, leading to waste or a loss of potential value in an economy.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, determined where marginal revenue equals marginal cost.