Idiosyncrasy Credits

question 74

Multiple Choice

Idiosyncrasy credits

• A)make it difficult for an individual to go against the wishes of the group.
• B)can be transferred from one group member to another.
• C)are earned by behaving deviantly on repeated occasions.
• D)make it more likely that one will be punished for nonconformity.
• E)allow the holder to behave deviantly without punishment from the group.

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Definitions:

Equilibrium Quantity

The amount of goods or services available matches the amount requested at the market price.

Consumer Surplus

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

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the trade of goods or services.

Equilibrium

A state of balance where demand equals supply in a market, leading to a stable price.