Imagine That a Group of Corporate Managers Are Experiencing Groupthink

question 41

Multiple Choice

Imagine that a group of corporate managers are experiencing groupthink.Which of the following is a symptom of this phenomenon?

• A) Supporting the leader becomes less important than supporting the other group members.
• B) Generating many possible solutions to a problem is valued over developing one solution fully.
• C) Reaching a consensus is valued over critically evaluating the facts.
• D) Group members become competitive and unlikely to cooperate with each other.

---

Definitions:

Competitive Price-Taker

A market participant who must accept the prevailing market prices because they have no influence over those prices due to their small market share.

Average Total Cost

The total cost of production divided by the quantity of output produced, representing the average cost per unit of output.

Homogeneous Products

Goods that are identical in quality and cannot be distinguished from one another by consumers.

Free Entry

Free entry is a market condition where businesses can enter and exit the market without facing significant barriers or costs.