A Curious Case of Mass Hysteria Occurred When Vast Numbers

question 56

Multiple Choice

A curious case of mass hysteria occurred when vast numbers of Londoners left the city because a soldier named Bell had predicted that the city would be destroyed by an earthquake on a specific day.The mass hysteria was primarily due to

• A) the high probability of another earthquake occurring.
• B) the influential personality of Bell.
• C) the Londoners themselves, who mimicked each others' behaviors.
• D) the scarcity principle.

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Definitions:

Profit-Maximizing

The method or plan of altering manufacturing and sales activities to maximize profit.

Marginal Cost

The expense incurred from manufacturing an extra single unit of a service or product.

Monopolist

A monopolist is a market participant who has exclusive control over the supply of a particular good or service, setting prices with minimal competition.

Profits

The difference between a business's revenues and its expenses.