Going Along with the Crowd Because They Appear to Know

question 48

Multiple Choice

Going along with the crowd because they appear to know more about the situation than you do is called

• A)pluralistic influence.
• B)normative influence.
• C)cohesion-based influence.
• D)informational influence.

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Definitions:

Average Total Cost

The cost of producing one unit, calculated by dividing the entire production cost by the quantity of units made.

Average Variable Cost

The variable cost of production (costs that change with the level of output) divided by the number of units produced, showing the variable cost per unit.

Marginal Cost

The extra expense associated with manufacturing an additional unit of a product or service.

Average Fixed Cost

The fixed cost divided by the quantity of output, representing the fixed cost per unit of output.