When Jurors or Some Judges Hearing a Case Are of Like-Minded

question 57

Multiple Choice

When jurors or some judges hearing a case are of like-minded people,they tend to go to extremes when making a decision as a group.This is an example of:

• A)group polarization.
• B)group shift.
• C)outgroup bias.
• D)groupthink effect.

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Definitions:

Deadweight Loss

The decrease in economic performance that happens when a good or service fails to meet or cannot attain its optimal distribution point.

Marginal Cost

The cost of producing one additional unit of a good or service, considering all variable resources used in production.

Monopolistic Competition

A type of imperfect competition such that many producers sell products that are differentiated from one another (e.g., by branding or quality) and hence are not perfect substitutes.

Irrational Consumers

Refers to the idea that consumers often make decisions that deviate from the assumptions of rationality in economics, such as making impulsive or emotionally driven purchases.