Melissa Is Doing a Project for Her Lab Class in a Group

question 200

Multiple Choice

Melissa is doing a project for her lab class in a group with three other people. Melissa knows that two of the other girls are straight A students and that they will do an excellent job on the project. Melissa also knows that the teacher will not know who has done what work on the project so she does not put much work into it. Melissa is falling sway to

• A)social facilitation
• B)group think
• C)norm of reciprocity
• D)social loafing

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Definitions:

MB = MC Decision Framework

A decision-making process where an action is taken if the marginal benefit (MB) is equal to or greater than the marginal cost (MC).

Interest-Rate Cost-of-Funds Curve

A graphical representation displaying the relationship between interest rates and the total cost of funds to a lending institution.

Marginal Cost Element

The increase in total cost that arises from producing one additional unit of a good or service.

MB = MC Decision Framework

A principle in economics where optimal decision-making is achieved when the marginal benefit (MB) of an action equals its marginal cost (MC).