Mary Has Just Heard Five Friends Say That Ontario Is

question 45

Multiple Choice

Mary has just heard five friends say that Ontario is the largest province in Canada,when she knows it is Quebec.Rob,the next friend in line,says that Alberta is the largest province.In this situation,Mary is now less likely to conform to the first five friends than if Rob had said which of the following?

• A) that Quebec is the largest province
• B) that Ontario is the largest province
• C) that he isn't sure
• D) that Manitoba is the largest province

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Definitions:

Competitive Price-searcher Market

A market where firms have some control over the prices they charge because their products are differentiated, leading them to actively search for competitive pricing strategies.

Product Quality

The measure of the inherent or assigned characteristics of a product that determine its value to the consumer, including durability, reliability, and performance.

Product Diversity

The range and variety of products and services offered by firms within a market or industry.

Competitive Market

A market structure characterized by a large number of buyers and sellers, free entry and exit, and products that are similar across suppliers, ensuring no single entity can control prices.