For Halloween, Jeff Wears a Sheet and Goes to a Party

question 161

Multiple Choice

For Halloween, Jeff wears a sheet and goes to a party as a ghost. How is this costume likely to influence his behavior? He will __________.

• A) focus more attention on himself, causing greater self-awareness
• B) feel less like himself, causing him to reaffirm his own moral standards
• C) feel less personally accountable for his behavior
• D) be more likely to monitor his own behavior

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Definitions:

Entry Barriers

Obstacles that make it difficult for new competitors to enter a market or industry.

Substitute Products

Products that can serve as replacements for one another; when the price of one increases, the demand for the substitute is likely to increase.

Herfindahl Index

A measure of market concentration used to evaluate the level of competition within an industry, calculated by summing the squares of the market shares of all firms in the industry.

Four-Firm Concentration Ratio

A measure of market concentration that indicates the combined market share of the four largest firms in an industry.