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Group Members Who Undergo Severe Initiations in Order to Join

question 44

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Group members who undergo severe initiations in order to join often find they are ___ than members of groups that have an open-membership policy.


Definitions:

Marginal Cost

The hike in cost resulting from the creation of one more unit of a product or service.

Cartel

An agreement among competing firms to control prices or exclude entry of a new competitor in a market, often leading to higher prices and restricted supply.

Marginal Cost

The hike in overall financial outlay due to producing an extra unit of a product or service.

Total Industry Profit

The cumulative profit earned by all companies operating within a specific industry.

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