Cognitive Dissonance Is

question 117

Multiple Choice

Cognitive dissonance is:

• A) a state of tension that occurs when a person simultaneously holds two cognitions that are psychologically inconsistent.
• B) the tendency of members of a group to avoid taking responsibility for their actions because they assume that others will do so.
• C) the tendency for members of a close-knit group to think alike for the sake of harmony and to suppress disagreement.
• D) a belief that a statement is true just because the person has heard it repeated over and over again.

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Definitions:

Producer Surplus

The difference between the amount producers are willing to supply a good for and the amount they actually receive.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay.

Marginal Benefit

This is the additional benefit received from the consumption of one more unit of a good or service.

Output Level

Refers to the quantity of goods or services produced by a firm or economy at a given point in time.