As You and Your Friends Returned and Met Up for the First

question 95

Multiple Choice

As you and your friends returned and met up for the first time since high school, you find that you've all taken different paths in life. Based on cognitive dissonance and the principle of justification of effort, who would be the least satisfied with what he or she is currently doing?

• A) Jill, who just finished a grueling four-month training period with the Marines
• B) Matt, who is in the Peace Corps, living in third-world countries with no modern conveniences
• C) Fiona, who is going to a local college with a loose admissions policy, and whose parents are paying her way
• D) Ann, who went through a five-step process to be accepted at her college and now is taking rigorous courses

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Definitions:

Price Change

A modification in the selling price of goods or services over a period.

Total Cost

The aggregate financial sum incurred by a firm in the production of goods or services, including both fixed and variable costs.

Average Cost

The total cost of production divided by the quantity of output produced, reflecting the cost per unit of output.

Restoration Cost

The expenditure required to return a damaged asset to its previous condition or to a condition deemed acceptable.