Liberman,Samuels,and Ross (2004)found That People Playing the "Wall Street Game

question 34

Multiple Choice

Liberman,Samuels,and Ross (2004) found that people playing the "Wall Street Game" were ________ competitive than people playing the "Community Game," ________ individual differences in competitiveness and cooperativeness.

• A)less; independent of
• B)more; because of
• C)less; despite
• D)less; because of
• E)more; independent of

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Definitions:

Short-Run Profit

The profit earned by a firm in the short term, typically considering only variable costs and fixed costs remaining constant.

Market Price

The existing rate at which a commodity or service is offered for buying or selling in a marketplace.

Soybeans

A type of legume native to East Asia, widely grown for its edible bean which has numerous uses.

Shut-Down Price

The price at which a firm ceases production in the short run because the market price has fallen below the minimum average variable cost.