Which of the Following Is the Best Example of Cognitive

question 107

Multiple Choice

Which of the following is the best example of cognitive dissonance?

• A) Phillip has been shopping for a new flat screen, but has not yet made a purchase because he is having trouble deciding which brand to buy.
• B) Lorelai decided to eat at a restaurant she previously avoided after learning several celebrities endorse the restaurant.
• C) Braylon is torn between going to the movies with friends or staying home and studying for an exam tomorrow.
• D) Drake just bought an expensive tablet and is already worried that he could have found a better deal if he had shopped more carefully.

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Definitions:

Economic Profits

The difference between the total revenue from sales and the total costs of production, including both explicit and implicit costs, representing excess earnings above the normal profit level.

Demand Curve

An illustrated curve that demonstrates how demand for a product decreases as its price increases, commonly presented with a downward trajectory.

Average Total Cost

The cost per unit of output, calculated by dividing the total cost (both fixed and variable) by the total quantity produced.

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.